Timing Loophole in Gene Hackman's Death Could Change Estate Inheritance.
On February 26, the bodies of Gene Hackman and his wife, Betsy, were discovered in their mansion in Santa Fe, New Mexico. The circumstances surrounding their deaths initially sparked speculation about foul play, but it now appears that no foul play was involved. Investigators believe that Betsy tragically died of hantavirus pulmonary syndrome, which she contracted from rodent droppings on February 11. Gene, who had advanced Alzheimer's, continued to live in the home for the next week before passing away on February 18. Investigators used CCTV footage from the neighborhood and Gene's pacemaker data to pinpoint the timeline of their deaths.
Despite the absence of foul play, the unusual nature of the deaths presents an even more bizarre twist involving Gene Hackman’s estate. It’s estimated that Gene’s net worth was $80 million, and if they had passed under normal circumstances, Gene's children from his first marriage would have received nothing. However, due to the unusual timing of their deaths, this may change.
Marriages and Children
Gene Hackman was married twice. His first marriage was to Faye Maltese, lasting 30 years from 1956 to 1986, during which they had three children:
- Christopher Allen Hackman
- Leslie Anne Hackman
- Elizabeth Jean Hackman
Gene’s second marriage was to Betsy Arakawa, a classical pianist, in 1991. They had been dating since 1984, slightly overlapping Gene’s first marriage. It’s rumored that Gene’s absence during his children’s early years caused some tension within the family.
Estate Planning
In 1995, Gene signed a will that made Betsy his sole beneficiary, with no mention of his children. This left everything to Betsy upon his death, effectively cutting out his children from his estate. Betsy, in turn, signed her own will, which stipulated that her assets would go to charity upon her death.
RELATED: The Essential Guide to Estate Planning.
Given the significant age difference between Gene and Betsy, it was widely assumed that Gene would pass away first. If that had happened, his share of their community assets would have gone directly to Betsy. Upon her death, those assets would have been directed to charity, and Gene’s children would have received nothing.
However, if Betsy had died first, her assets would have gone to Gene, and he would likely have amended his will to leave everything to charity, following her wishes.
Fateful Loophole
A strange loophole in the timing of Gene and Betsy’s deaths could now potentially benefit Gene’s children. According to documents seen by TMZ, Betsy’s will included a provision stating that if she and Gene died within 90 days of each other, their deaths would be considered "simultaneous." As it turns out, they passed away within just 7 days of one another.
If their deaths are deemed simultaneous, Gene’s share of the community property would not automatically pass to Betsy (and then on to charity). Instead, it would be considered part of Gene’s estate, and in New Mexico, community property passes to a person’s direct heirs. This means Gene’s children could inherit his portion, despite him not having mentioned them in his will.
Had Gene included his children in his will, even with a nominal amount, it could have been interpreted that he intended for his share of the estate to pass to his children directly, avoiding the community property route. This is why some individuals leave a small amount like $1 to prevent anyone from claiming they were accidentally left out.
It seems that the unusual circumstances surrounding their deaths have inadvertently created an opportunity for Gene's children to inherit his portion of the estate.
