Eugene (“Gene”) Allen Hackman amassed an $80 million fortune over the course of his prolific acting career that spanned several decades. Yet, despite his fame, fortune, and an Estate Plan, his estate may end up in litigation because of incomplete planning. In a story with twists and turns as bizarre as some of the movies in which he starred, Gene Hackman died on February 18, 2025. When the news first broke that Gene and his wife of thirty-three years, Betsy Arakawa (“Betsy”), died in their Sante Fe home on February 26, 2025, many were shocked. Local authorities determined that the circumstances surrounding their deaths warranted investigation. Earlier that day, two maintenance workers found Gene and his wife unconscious inside the home. A subsequent telephone call to 911 revealed that neither was breathing and the authorities later discovered both had been dead for some time. The facts surrounding their tragic deaths give us reason to pause, as does their Estate Plan.
Gene Hackman got his start on Broadway and starred in movies too numerous to count playing roles that ran the gamut from kindly coach to venomous villain. He was a natural in every role as his many accolades evidence. He had three children, Christopher Allen, Elizabeth Jean, and Leslie Ann Hackman, with his first wife, Faye Maltese (“Faye”). Gene and Faye divorced after thirty (30) years of marriage and five (5) years later he married Betsy and remained married to her until her death a week before his. Authorities believe that because Gene was suffering from advanced-stage Alzheimer’s he was unable to comprehend or alert anyone to her death. Imagine the iconic Gene Hackman spending his final week alone, confused, and unable to care for himself. What a tragic end to an otherwise magnificent life.
Normally, when this blog examines celebrity estates it’s because litigation has begun. For the respective estates of Gene and Betsy, that hasn’t happened yet, although Gene’s son has already hired a litigation attorney. Here, both Gene and Betsy had Estate Plans and yet, many of the terms of those plans have not been made public, although it seems both plans left all assets to Gene’s Revocable Trust. Gene’s Trust named Betsy as beneficiary, but it seems did not complete a scenario in which she died first. While some sources report that Gene’s Will didn’t mention his children, others indicate that he created trusts for their benefit, yet none confirm that Gene’s Trust named his children as beneficiaries upon Betsy’s death or upon her predeceasing Gene. That’s a common way to structure an Estate Plan in a second marriage situation, especially when one spouse has children from a prior union. Yet that did not happen here, which makes that lack of planning more surprising. Conversely, Betsy’s Estate Plan not only required Gene to survive by ninety (90) days but also inserted alternate beneficiaries if he failed to survive her. Gene did not survive Betsy by the necessary amount of time, thus it’s unclear whether Betsy’s assets will pass to Gene’s Trust, to charity as dictated by her Estate Plan, or in another way.
As is so often the case with celebrity estates, we can learn lessons from what went wrong. Betsy functioned as caregiver for Gene which often happens when one spouse takes ill. What struck me, though, was that Betsy had no outside help and neither she nor Gene had set up any other support system for Betsy. They had the means to hire help yet failed to do that. Even if a loved one insists upon shouldering the burden of care alone, a system of “check-ins” provides invaluable support and an opportunity for updates without being too intrusive. An established well-check needn’t be anything extensive. A text or call to ensure that the other party answers and doesn’t need assistance will suffice. Here, that may or may not have made a difference. Given Gene’s advanced Alzheimer’s diagnosis, it sounds like he was unable to communicate at all, but a lack of response from him or Betsy may have alerted someone that something was not right.
Next, ensure that your Estate Plan contains contingency plans that cover not only the appointment of fiduciaries but also beneficiaries. Your Estate Plan needs to contain provisions for the appointment of fiduciaries and successor fiduciaries, as well as a method to appoint additional fiduciaries should none of the named individuals be able to act. The plan also needs to cover as many potential outcomes as possible. Here, Betsy’s plan had clear instructions regarding what should happen should she outlive Gene which was a fair assumption given their age gap. Gene’s plan, however, had a significant hole in failing to address what should happen should Betsy predecease Gene. While that was an unlikely scenario, it was the correct one here. Gene could have easily inserted his children as the backups to Betsy which often occurs, especially in a second marriage situation. He could have named a charity or other individuals as well. Most states have statutes that dictate how assets pass in the absence of clear provisions in an Estate Plan, and it could be that those laws govern here.
Though the incomparable Gene Hackman has left this earth, his legacy will live on and the curious may gain a deeper understanding of the man behind the myth as this plays out in a public forum. Don’t leave your final plans undone. Reach out to me to ensure that your Estate Plan contains the proper contingencies…and don’t forget to check on your loved ones!