
In the wake of the passing of Gene Hackman and his wife Betsy Arakawa, the intricacies of their intertwined estates reveal a deeply complex legacy that continues to unfold.
- Mar 15, 2025
AceShowbiz - More intricate details of Gene Hackman and his wife Betsy Arakawa's wills have emerged, roughly a month after the couple was found dead in their home.
The two-time Oscar-winning actor named Arakawa as the personal representative and beneficiary of his "entire estate" through the Gene Hackman Living Trust. Meanwhile, Arakawa's will stipulated her estate to flow into Hackman's trust if he outlived her.
Unfortunately, their deaths closely followed in early February, compounding the situation with additional complexities in probate and trust operations.
Hackman passed away from natural causes due to heart disease and complications from Alzheimer's disease at age 95, just a week after Arakawa, who succumbed to Hantavirus pulmonary syndrome.
The couple's last residing days in Santa Fe concluded dramatically, leaving the beneficiaries and estate executors with a daunting responsibility. Experts even suggested a family feud could be brewing.
Julia L. Peters, who works for a Santa Fe-based trust company, has taken command as the personal representative of both estates after the death of Hackman's first successor, attorney Michael G. Sutin.
Peters, reinforcing her role as a successor trustee, must ensure the respective trust directives are meticulously followed and executed, thereby distributing assets according to the deceased couple's articulated desires.
The intricacies of handling Hackman's assets were highlighted by San Diego estate attorney and certified public accountant Michael P. McCarthy. He reaffirmed, "Whomever acts as trustee will be bound by the actual terms of the decedents' trust documents and shouldn't be able to influence the distribution of assets."
Documents from the Santa Fe district court reveal the interconnected nature of their trusts. The GeBe Revocable Trust, created in September 1994, synergizes with the Gene Hackman Living Trust.
These frameworks are structured to administer and dispense the couple's assets, navigating specific bequests and intended community-oriented charitable donations as embedded in the original trust documents.
Hackman's will directs the estates through these preordained channels, and Peters has ensured that Hackman's three children were notified of her appointment as their father's personal representative.
The trust's documentation still remains private, upholding the family's preference for confidentiality regarding the precise benefactions and beneficiaries outside of family and institutional beneficiaries.
Arakawa's will included a poignant element, establishing continued charitable contributions consistent with the shared philanthropic intentions she and Hackman held during their lifetimes. Her mother is listed as the sole heir, ensuring a portion of her legacy continues through personal family connections.
Now, it is incumbent upon Julia L. Peters to navigate these complexities conscientiously, echoing their wishes that resonate beyond the grave.