Gene Hackman, the legendary actor known for his iconic roles in films like “The French Connection” and “Unforgiven,” has left behind a legacy that extends beyond his impressive acting career. At the time of his passing, his estate, valued at approximately $80 million, raises important questions about the complexities of estate planning and the need for individuals to regularly review and update their estate plans. The passing of Gene Hackman, age 95, and his wife Betsy Arakawa, age 65, has brought attention to the intricacies of their estate, highlighting the importance of proper estate planning. The couple’s estate, which includes significant real estate holdings valued at approximately $11 million dollars, raises concerns about the distribution of assets in the absence of up-to-date wills and trusts. What Happens to the Estate?
In this scenario, Gene Hackman did not leave behind any children with Betsy, but he had three children from a previous marriage, Christopher, Elizabeth, and Leslie. The children were not named as beneficiaries in Gene’s will, leaving their inheritance uncertain. However, it is essential to note that Gene did not explicitly disinherit his children either, leaving room for interpretation regarding his intentions. The lack of a contingent beneficiary means that if Gene did not survive Betsy by 90 days, his estate would be subject to the laws of intestate succession. As a result, his estate could pass to his next of kin, which would be his children. While this may seem like a straightforward process, the absence of a clear plan for the distribution of assets raises questions about Gene’s true intentions and the potential for conflict among his loved ones. • The couple’s wills were executed in 2005 and have not been updated since, leaving their estate vulnerable to changes in their circumstances. • The lack of a contingent beneficiary means that Gene’s estate could pass to his children, even if that was not his intention. • New Mexico is a community property state, which could result in a portion of Gene’s assets being deemed community property and going to Betsy’s estate. Outdated Wills
Gene Hackman’s estate is a prime example of the importance of regularly reviewing and updating one’s estate plan. This lack of foresight can lead to unintended consequences, such as the distribution of assets according to the law, rather than according to their wishes. •

Takeaways
The passing of Gene Hackman and his wife Betsy serves as a reminder of the importance of regularly reviewing and updating one’s estate plan. This case highlights the need for individuals to work with an estate planning attorney who can help them navigate the complexities of estate planning and ensure that their assets pass according to their wishes. “It’s a tough situation for everyone involved,” said an estate planning expert. “But it’s a valuable lesson for anyone who wants to ensure that their estate is distributed according to their wishes, rather than according to the law.”
The passing of Gene Hackman and his wife Betsy is a tragic reminder of the importance of proper estate planning. By working with an estate planning attorney and regularly reviewing and updating one’s estate plan, individuals can ensure that their assets are distributed according to their wishes, rather than according to the law. “Estate planning is not just about leaving a will, it’s about making sure that your wishes are carried out, no matter what life throws at you.”
— Estate Planning Expert
Key Points
• Gene Hackman’s estate is valued at approximately $80 million. • The couple’s wills were executed in 2005 and have not been updated since. • Gene did not name any beneficiaries in his will, leaving his children’s inheritance uncertain. • Betsy’s will named Gene as her beneficiary, but did not include a contingent beneficiary.