Battle over Gene Hackman’s $80M fortune possible as shocking details of his will are revealed

Gene Hackman and Betsy Arakawa’s wills have been revealed a month after their deaths.

The Oscar-winning actor, 95, left his $80 million Hollywood fortune to his wife Betsy, 65, who was a successor trustee to his trust. It’s unclear if his three children, son Christopher Allen, 65, and daughters Leslie Anne, 58, and Elizabeth Jean, 62, from his previous marriage to Faye Maltese, were left anything in his will.  

The possible omission of his children, who he was once estranged from, has raised the possibility of a legal battle over his fortune.

A legal expert told DailyMail.com ‘If he died first and she [Betsy] had survived, it would’ve been World War III! His kids would’ve probably gone crazy.’ 

In her will, Betsy designates her assets to a trust, to be distributed to charitable organizations and the settlement of medical debts. 

Hackman, who had Alzheimer’s, seemingly signed the most recent copy of his will on June 7, 2005. It’s unclear exactly when he was diagnosed with the progressive neurodegenerative disease. 

Gene Hackman, 95, and Betsy Arakawa’s, 65, wills have been revealed a month after their deaths; the duo seen in 2003

The actor left his $80 million Hollywood fortune to his wife Betsy, who was a successor trustee to his trust. It’s unclear if his three children, son Christopher Allen, 65, and daughters Leslie Anne, 58, and Elizabeth Jean, 62, from his previous marriage to Faye Maltese, were left anything in his will; seen with Betsy, Leslie and Elizabeth in 1996

Details of the investigation into the curious deaths of Gene and Betsy were released Friday by Santa Fe, New Mexico officials. The couple was found deceased in separate rooms of their home on February 26. 

Arakawa died around February 11 from a rare virus spread by mice, while Hackman likely died on February 18 from heart disease.

Attorney Julia Peters has been appointed as executor of both wills, though it’s unclear how the estates will be divided without a copy of the Trust. 

Gene initially had another trust (GeBe Revocable Trust), but in 1994 he exercised his power of appointment and made Betsy the Successor Trustee, which was then put into effect on Sept. 22, 1995.

At some point, Gene made another change, and the Avalon Trust was made the Successor Trustee.

The prior trust agreement is crucial, as it may have included his children as beneficiaries before he amended it in 1994, making Betsy the successor trustee. 

The source further noted that Gene’s son Chris’ decision to hire Andrew M. Katzenstein, a prominent California trust and estate attorney, is notable.

‘By hiring Katzenstein, it shows that he [Chris] is definitely trying to protect his interests.’

‘The fact that Chris got a high-powered lawyer indicates to me something is going on. I don’t know why the girls [daughters] are not represented. That tells me that there must be some trouble brewing.’

‘Whatever they collect from the estate will be managed by Avalon,’ the source added. 

In her will, Betsy states: ‘If my spouse does not survive me, I give the residue of my estate to my personal representative, as trustee, to hold and administer in a charitable trust to achieve purposes beneficial to the community, consistent with the charitable preferences and interests expressed or indicated by my spouse and me during our lifetimes.’

The possible omission of his children, who he was once estranged from, has raised the possibility of a legal battle over his fortune; Elizabeth and Leslie pictured in February

In her will, Betsy designates her assets to a trust, to be distributed to charitable organizations and the settlement of medical debts; the pair seen in 1991

A legal expert told DailyMail.com ‘If he died first and she [Betsy] had survived, it would’ve been World War III! His kids would’ve probably gone crazy’; seen with his three kids in 1978

The source further noted that Gene’s son Chris’ decision to hire Andrew M. Katzenstein, a prominent California trust and estate attorney, is notable. ‘The fact that Chris got a high-powered lawyer indicates to me something is going on. I don’t know why the girls [daughters] are not represented’; Gene seen with his kids

‘All my legally enforceable debts will be paid as soon as practicable after my death,’ the document specifies.

As for her personal belongings — which could be items like furniture, jewelry, artwork — Betsy’s will states she might provide a separate list for their distribution.

Hackman’s commitment to the glamorous Hollywood scene caused a rift in his family life. His marriage to Faye ended in divorce and Hackman became somewhat absentee while the trio were ‘growing up’.

He ‘lost touch’ with Christopher, openly admitting that he was ‘gone so much’ while his son was at an ‘age where he needed support and guidance’.

He seemingly maintained contact with Leslie and Elizabeth, who were both spotted on occasion accompanying him to film screenings and Hollywood events.

But Hackman has acknowledged his children had a difficult upbringing and struggled with having his ‘success always hanging over their heads’.

It wasn’t until he married his second wife in 1991 that the family began to heal. Arakawa was keen on helping Hackman reconcile with his children and encouraged him to invite them and his grandchildren over to their Santa Fe home.

At the end of his life, Hackman was reportedly ‘close with his children and their kids’, but he still had gone months without seeing Leslie, the one family member who had the most contact with both him and Arakawa.

Betsy was found in a bathroom with one of the couple’s three dogs, which was dead in its crate.

Hackman, who had Alzheimer’s, seemingly signed the most recent copy of his will on June 7, 2005. It’s unclear exactly when he was diagnosed with the progressive neurodegenerative disease; seen with Leslie in 1991

After his divorce from Faye in 1986, he ‘lost touch’ with Christopher, openly admitting that he was ‘gone so much’ while his son was at an ‘age where he needed support and guidance’; seen with Chris in 1973

He seemingly maintained contact with Leslie and Elizabeth, who were both spotted on occasion accompanying him to film screenings and Hollywood events; seen in 1978

These conclusions from the New Mexico Office of the Medical Investigator and Santa Fe Sheriff’s office answered many of the questions that were swirling after the couple’s bodies were found by a caretaker of their gated community.

They may also play a role in divvying up the couple’s property — the $3.8 million home in Santa Fe and other assets that amount to some $80 million, according to celebritynetworth.com.

This could have implications for any inheritance that Hackman’s son and two daughters receive. Arakawa, a pianist from Hawaii, had no children.

The timing of the couple’s deaths is important because, under New Mexico law, had they died within 120 hours of each other, their deaths would have been classified as ‘simultaneous.’

This may have impacted how the estates of Hackman and Arakawa were divided.

But given that investigators found Hackman lived for seven days after his wife, based on his pacemaker activity, those provisions would not apply, and his estate may be divided among his beneficiaries other than Arakawa, experts said.

‘In a lot of states, including New Mexico, there’s a kind of presumptive triggering deadline of five days before you’re considered having survived under the terms of most wills,’ Kevin Holmes of Holmes Law Firm told DailyMail.com.

There are many unknowns that could come into play in the coming weeks, said John Budagher, an attorney at Budagher & Tann.

‘It’s your money,’ says Budagher. ‘You’re allowed to give it to whomever you want, including a donkey sanctuary in Connecticut.’

Another important factor could be the date on which any will or legal documents were signed, he added. That’s especially true for Hackman, given his deterioration from Alzheimer’s, as any recent updates to his papers could be queried.

‘If it’s more recent, that doesn’t mean it’s invalid, it just means it’s riper for a potential challenge — especially if it’s doing something like leaving everything to a caretaker,’ said Budagher.

The couple was found deceased in separate rooms of their home on February 26. Arakawa died around February 11 from a rare virus spread by mice, while Hackman likely died on February 18 from heart disease (Pictured: The couple in 1991) 

Arakawa is said to have died first due to her infection, which initially presents with flu like symptoms. Hackman is believed to have died in the home (pictured) about a week later 

Their 12-year-old dog Zinna was found dead along with them in the home. She is believed to have died from starvation and dehydration after being left to fend for herself in a crate after her owners died (Pictured: Hackman and Arakawa with their old dogs in 2005) 

Other unknown factors include whether Hackman and Arakawa made any pre-nuptial or post-nuptial agreements, and if any children or other potential beneficiaries will make claims on the estate.

And though there is likely to be some action in the coming days, the whole process could take much longer — under New Mexico law, family members and others have up to three years of a person’s death to file a probate case.

Hackman’s two daughters and granddaughter Annie, have released a statement saying they were ‘devastated’ by his death.

‘He was loved and admired by millions around the world for his brilliant acting career, but to us, he was always just Dad and Grandpa,’ said the statement.

Leslie told DailyMail.com that she was ‘close’ with her dad but that they had not spoken for a ‘few months’ before his passing.

While Santa Fe Sheriff Adam Mendoza says he’s confident of the timeline of what occurred at the couple’s property, he told reporters on Friday that the case remains open until they ‘close the loopholes.’

Despite each of the deaths being ruled as natural, with no signs of internal or external trauma, Mendoza has insisted authorities are not done with the investigation.

Specifically, the sheriff said officers are waiting to see the couple’s cell phone records, as well as the results of a necropsy, or autopsy, that is set to be conducted on their deceased dog.

According to a search warrant obtained by DailyMail.com detectives listed two cellphones among the items taken from their home.

Hackman and Arakawa met in a gym in California in the mid-1980s and moved to Sante Fe shortly after, before getting married in 1991. They were active in the city’s art community and culinary scene.

In recent years, they were seen less often in town as his health deteriorated. They lived a very private life before their deaths, Mendoza said.

Both Hackman and Arakawa appeared to have suddenly fallen to the floor and neither showed signs of blunt force trauma.

Arakawa was found lying on her side in the bathroom, an apparent victim of the rodent-borne hantavirus, a rare disease in the US.

Most US cases are concentrated in the West. In northern New Mexico, the virus is mostly spread by droppings and urine of deer mice.

It is often transmitted through the air when people sweep out sheds or clean closets where mice have been living.

It begins with flu-like symptoms and can lead to heart and lung failure, with around 38 percent to 50 percent of cases resulting in death.

The couple’s 12-year-old Australian Kelpie mix, Zinna, was found dead inside a crate in the same room.

Hackman’s life until 2004 was lived in the Hollywood glare – he is pictured with friend and Unforgiven co-star Clint Eastwood at the 1993 Oscars 

Arakawa had picked up Zinna in a crate on February 9 from a Santa Fe veterinarian, which may explain why the dog was found dead in the crate, Mendoza said. It may have died of starvation.

Their two other dogs, Bear and Nikita, survived and were found roaming around the couple’s Southwestern-style ranch.

Hackman was discovered lying on the ground of a mud room just off the kitchen with his sunglasses and cane nearby, indicating he may have fallen, officials said.

There was no trace of carbon monoxide in the bodies of the couple, despite many thinking they were poisoned initially.

Hackman, a former Marine known for his raspy voice, appeared in more than 80 films, as well as on television and the stage during a lengthy career that started in the early 1960s.

He earned his first Oscar nomination for his breakout role as the brother of bank robber Clyde Barrow in 1967’s ‘Bonnie and Clyde.’

He won an Oscar for best actor in 1972 for his portrayal of detective Popeye Doyle in ‘The French Connection,’ and in 1993 won an Oscar for best supporting actor for ‘Unforgiven.’