Legal battle Over Gene Hackman’s Massive Fortune Looms As Surprising Will Details Emerge

Gene Hackman and Betsy Arakawa’s wills have been disclosed, shedding light on the distribution of their money and possessions a month after their passing.
The 95-year-old Oscar-winning actor left his $80 million Hollywood fortune to his wife, Betsy, 65, who was named the successor trustee of his trust. However, it remains unclear whether his three children—son Christopher Allen, 65, and daughters Leslie Anne, 58, and Elizabeth Jean, 62—from his previous marriage to Faye Maltese, were included in his will.
Given Hackman’s past estrangement from his children, speculation has arisen about a potential legal dispute over his estate according to The Daily Mail.
A legal professional 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 allocated her assets to a trust, specifying that they be used for charitable donations and to cover outstanding medical expenses.
Hackman, who suffered from Alzheimer’s, reportedly signed the most recent version of his will on June 7, 2005. However, the exact timing of his diagnosis with the progressive neurodegenerative disease remains uncertain.
Hackman was likely alone at home with his wife’s body for a week before passing away himself, the sheriff of Santa Fe, New Mexico, stated during a press conference last week.
A post-mortem examination revealed that Ms. Arakawa, also known as Betsy Hackman, died from hantavirus pulmonary syndrome—a rare but potentially deadly disease transmitted to humans through exposure to infected rodent droppings or saliva.
Hackman passed away a week later, on February 18, due to hypertensive and atherosclerotic cardiovascular disease, with Alzheimer’s disease cited as a significant contributing factor, according to experts.
Attorney Julia Peters has reportedly been named the executor of both wills. Additionally, Peters is seeking to prevent the public release of autopsy findings and investigative reports regarding the deaths of Gene and Betsy Hackman.
Gene originally established the GeBe Revocable Trust, but in 1994, he appointed Betsy as the successor trustee, a change that took effect on September 22, 1995 per Daily Mail.
Later, he made another modification, naming the Avalon Trust as the successor trustee.
The previous trust agreement is significant, as it may have originally included his children as beneficiaries before he amended it in 1994 to designate Betsy instead.
Additionally, a source highlighted that Gene’s son, Chris, has retained Andrew M. Katzenstein, a well-known California trust and estate attorney, a move that could indicate potential legal action.
A source told Daily Mail, Betsy states in her will: “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.”
Hackman’s dedication to Hollywood led to a strained family life, contributing to his divorce from Faye Maltese and his absence during his children’s upbringing.
He admitted to losing touch with his son, Christopher, acknowledging that he was “gone so much” during critical years. However, he remained in contact with his daughters, Leslie and Elizabeth, who occasionally joined him at film events.
Hackman recognized the challenges his children faced growing up in his shadow. It wasn’t until he married Betsy Arakawa in 1991 that efforts to mend their relationships began. Arakawa encouraged him to reconnect, inviting his children and grandchildren to their Santa Fe home.