'It Would've Been World War III': Battle over Gene Hackman's $80M Fortune Is Possible Due to One Change in His Will

The actor and his wife had no children together, but he left behind two daughters and a son from a previous marriage. As discussions over his estate unfold, an insider hinted at "trouble brewing" after his passing.

Gene Hackman and his wife, Betsy Arakawa, had each prepared written wills, both of which have now been made public. However, uncertainty lingers regarding whether his three children were included in the inheritance, as he made revisions to his estate plans years ago.

Unanswered questions surrounding his estate have led to growing speculation. The veteran star, who died at 95, designated his wife, Arakawa, 65, as the successor trustee of his $80 million Hollywood fortune.

However, it remains unknown whether his children — Christopher Hackman, 65, Leslie Hackman, 58, and Elizabeth Hackman, 62 — whom he shared with his former wife, Faye Maltese, were included in his final wishes.

Initially, a source revealed the celebrity's wealth is expected to be distributed among his children. Legal analyst Tre Lovell stated that if his will outlines an equal division, his entire estate would be transferred directly to them. However, without public access to the full details of his estate plan, the exact distribution remains uncertain.

The lack of clarity, combined with Gene's past estrangement from his children, has raised concerns that the estate's division could lead to a legal dispute.

A legal expert said, "If he died first and she [Betsy] had survived, it would've been World War III. His kids would've probably gone crazy." Arakawa's will places her assets in a trust, allocating funds for charitable organizations and medical expenses. Gene last updated his will on June 7, 2005.

The Academy Award winner's estate arrangements involve several legal intricacies. Attorney Julia Peters has been named executor of both wills, but without access to the trust documents, the specifics of asset distribution remain unclear.

His estate planning underwent significant changes over the years. Gene originally established the GeBe Revocable Trust but, in 1994, used his power of appointment to designate Arakawa as the successor trustee.

This decision took effect on September 22, 1995. At some point, another revision placed Avalon Trust in control. The original trust agreement may be key, as it could have included his children as beneficiaries before the modifications.

Amid questions about the estate's distribution, Christopher's decision to hire Andrew M. Katzenstein, a well-regarded California trust and estate attorney, has not gone unnoticed. A source remarked, "By hiring Katzenstein, it shows that he [Chris] is definitely trying to protect his interests."

The insider added, "The fact that Chris got a high-powered lawyer indicates to me something is going on. I don't know why the girls [daughters] are not represented. That tells me that there must be some trouble brewing."

Any inheritance for Gene's children will be managed by Avalon. At the same time, Arakawa's will allocates the remainder of her estate to a charitable trust, ensuring their philanthropic vision continues.

The legal arrangements outlined in the wills also address financial obligations and personal belongings. According to the document, "All my legally enforceable debts will be paid as soon as practicable after my death," the classical pianist's will states.

Regarding personal possessions, Arakawa's will allows for a separate list detailing the distribution of items such as furniture, jewelry, and artwork, though it remains unclear if such a list was ever created.

The timing of the couple's deaths played a role in the estate's distribution. Authorities discovered them in separate rooms of their home on February 26, 2025.

Reports indicated that Arakawa died around February 11 from a rare virus transmitted by mice, while Gene likely passed on February 18 due to heart disease.

Under New Mexico law, deaths occurring within 120 hours of each other are classified as simultaneous, which could have affected the division of their assets.

However, investigators determined that Gene survived his wife by seven days, based on pacemaker data, preventing that classification from applying. Legal experts noted that many states, including New Mexico, recognize a five-day survival rule when determining estate succession.

Estate planning for married couples typically involves leaving assets to one another. However, since these documents remain private, the specific beneficiaries named in Gene and Arakawa’s wills have not been publicly disclosed.

Attorney John Budagher of Budagher & Tann noted that without access to their estate plans, the details of how their wealth will be distributed remain unknown.

Although their estate plans have not been made public, the couple lived out their final days in their Santa Fe home, where they were eventually discovered.

Situated on a twelve-acre, piñon-covered hilltop just north of the city, the property offers sweeping, 360-degree views that extend to the Colorado mountains. Gene developed a deep connection to the area after working on several films there, describing it as having "a kind of magic in it."

Drawn to the landscape, he purchased the home for its location and later enlisted Santa Fe architects Harry Daple and Stephen Samuelson of Studio Arquitectura to help transform it into his ideal retreat.

Alongside their Santa Fe home, Gene owned a Montecito estate that he and his first wife, Maltese, spent over a year restoring. Situated on twenty-five acres, the aging mansion required extensive renovations to bring it back to its former beauty.

For the interior design, they hired Steve Chase, whose work they had admired. His approach focused on maintaining the home's European elegance while adapting it to a more relaxed and livable space for the family.

Gene preferred remodeling homes over building them from the ground up, finding satisfaction in transforming existing spaces. He likened the process to his craft.

Although Gene found inspiration in his surroundings, his dedication to Hollywood strained his family life. His demanding career played a role in the breakdown of his marriage to Maltese, and during his children's formative years, he was often absent.

His son, Christopher, was particularly affected, as Gene later admitted to losing touch with him during a period when he needed guidance and support.

Although he remained somewhat connected to his daughters, Leslie and Elizabeth, who occasionally accompanied him to industry events, he acknowledged the challenges they faced growing up in the shadow of his success.

Gene's second marriage in 1991 marked a turning point, as Arakawa encouraged him to rebuild relationships with his kids. She played a role in bringing the family together, urging him to welcome them and his grandchildren into their Santa Fe home.

By the end of his life, Gene had reportedly grown closer to his children and grandchildren. However, despite their improved relationship, he still went extended periods without seeing Leslie, the family member who remained most in contact with both him and Arakawa.

Gene Hackman's estate planning, shaped by years of revisions, legal adjustments, and personal reconciliations, remains under scrutiny. While Arakawa was named as the primary beneficiary, the extent to which his children were included in his final wishes is unclear.

Legal complexities, including trust modifications and state inheritance laws, will determine how his assets are ultimately divided. With questions lingering over his fortune, any potential disputes will depend on the terms set in his final will and trust documents.