Twists and turns continue to unfold following the death of Gene Hackman and his wife Betsy Arakawa. After the mysteries surrounding the couple’s death, found lifeless in their New Mexico home about a month ago, a complex chapter now opens regarding the fate of the actor’s fortune, estimated at around 80 million dollars.
According to the star’s will, drafted in 1995, his three children from his 30-year union with Faye Maltese were excluded, and the entire estate was assigned to his current wife. However, due to Arakawa’s passing, the fate of the substantial estate is now shrouded in uncertainty and could trigger a lengthy legal battle.
According to the British newspaper Daily Mail, Hackman had initially established the “GeBe Revocable Trust,” a trust fund designating his wife as the sole administrator. Later, a further transfer to the “Avalon Trust” was arranged, and in this process, the children Christopher Allen, Leslie Anne, and Elizabeth Jean may have been excluded. However, it is still unclear whether these changes were made before or after the artist’s Alzheimer’s diagnosis: this could raise doubts about the two-time Oscar winner’s ability to make decisions at the time of signing the documents.
The matter could soon turn into a complex legal battle. The actor’s firstborn, Christopher Allen, has already hired renowned lawyer Andrew M. Katzenstein, an expert in inheritance matters. The will could therefore be contested, although the other two daughters have not yet taken any action in this regard.
Arakawa’s will, on the other hand, stipulates that her assets be donated to a trust for charitable organizations and to cover medical debts.
New Mexico law grants family members up to three years to contest the wishes of a relative in case of disputes. Therefore, if Hackman’s children decide to proceed with a legal challenge, the inheritance dispute could drag on for a long time, leaving the fate of the actor’s substantial fortune unresolved.
