The recent passing of legendary actor Gene Hackman has revealed a complicated estate situation. This serves as a powerful reminder for everyone—especially married couples—regardless of your net worth.
Whether you have significant assets or simply want to ensure your wishes are honored, getting your estate plan right is essential. It’s the key to avoiding a mess of open loops, creditors, and unnecessary pain for your loved ones. Unfortunately, many estate plans—even those prepared by top lawyers—are ticking time bombs that could explode when it’s too late. However, the right estate planning process—what I call Life & Legacy Planning—can save your loved ones from the emotional and financial burdens of poor planning.
In this article, we’ll explore valuable lessons from the Hackman estate and why a well-structured Life & Legacy plan is crucial for avoiding pitfalls, outdated documents, and inheritance disputes.
Let’s first explore what happened.
What Happened in the Hackman Estate?
Gene Hackman, the two-time Academy Award winner, and his wife Betsy Arakawa were recently found deceased in their Santa Fe, New Mexico home. Arakawa, 65, died on February 11 from Hantavirus pulmonary syndrome, a rare disease contracted through contact with mouse droppings. Hackman, who was 95, died a week later from heart disease and complications from Alzheimer’s.
The couple’s wills, both dated 2005, show they intended to leave their estates to one another. Hackman’s will named Arakawa as the personal representative of his estate and the recipient of his “entire estate” as successor trustee of the Gene Hackman Living Trust. Arakawa’s will specified that her estate would go to the trustee of Hackman’s trust if he outlived her.
Unlike many couples who leave their assets to each other, Hackman and Arakawa had contingency plans in place. Since both are now deceased, Julia L. Peters, the second successor personal representative in Hackman’s will, is now managing both estates.
The Simultaneous Death Problem Most Couples Overlook
Most married couples do exactly what Hackman and Arakawa did—they name each other as the primary beneficiary on everything: wills, trusts, life insurance policies, retirement accounts, and more. But what happens if you and your spouse die together or within a short time of each other? Chaos, delays, and assets potentially going to unintended beneficiaries can result. Your loved ones may also have to go to court, which can be expensive.
Arakawa appeared to have considered this issue in her estate planning. Her will contained a provision that if she and Hackman died within 90 days of each other, her assets would go to a charitable trust. She had no children of her own.
Blended Family Considerations
If you have a blended family, things can get complicated. Hackman’s will acknowledges his three adult children from his previous marriage to Faye Maltese. But with both Hackman and Arakawa passing away close to each other, sorting out the beneficiaries could be difficult. Hackman’s assets were to go to Arakawa, and Arakawa’s to Hackman. This creates a loop that needs to be resolved. If Arakawa’s assets go to a charitable trust instead of Hackman’s estate, his children may receive nothing from her estate.
Hackman’s will listed his children: Christopher Hackman, Elizabeth Hackman, and Leslie Allen. Court records show that notices about Peters’s appointment as personal representative were sent to all three children in March 2025.
The Life & Legacy Planning Approach
The Hackman case offers important lessons in estate planning. As a Personal Family Lawyer® firm, I create plans for clients using the Life & Legacy Planning® process. Your plan should work when you and your loved ones need it most. All my Life & Legacy plans are comprehensive and customized to fit your family dynamics, your assets, and your wishes.
Here are a few strategies we use to ensure your plan works for you:
1. Name Contingent Beneficiaries for Everything
For every asset and in every document, we’ll name both primary and contingent beneficiaries. This includes your will, trust, life insurance, retirement accounts, transfer-on-death accounts, and any other assets with beneficiary designations. When you work with me, we start by inventorying all your assets to ensure nothing is overlooked.
2. Include Simultaneous Death Provisions
We’ll include provisions in your will and trust that address what happens if you and your spouse die simultaneously or within a short time of each other. The standard “120-hour rule” in many state laws may not be sufficient for your needs. We’ll also cover what happens if any named beneficiary predeceases you.
3. Create a Revocable Living Trust
A properly structured revocable living trust can provide more precise instructions for various scenarios. Trusts offer privacy, save money on taxes, and can bypass the probate process—helping your loved ones avoid conflict, save time, and reduce costs.
4. Include Special Provisions for Blended Families
If yours is a blended family, we’ll include customized strategies to ensure that no one is accidentally disinherited.
5. Review and Update Regularly
Hackman’s will was reportedly last updated nearly 20 years before his death. This is a dangerously long period that puts anyone’s estate plan at risk. To ensure your plan works, it must reflect your life closely, whether you face death or incapacity. We recommend reviewing your plan at least every 3 years and after any major life event such as the death of a beneficiary, marriage, divorce, or birth. My Life & Legacy Planning process includes reviews every 3 years, so we can catch vulnerabilities before they become problems for your loved ones.
Your Next Step
As the Hackman case illustrates, effective estate planning isn’t just about creating documents—it’s about creating a comprehensive plan that anticipates all scenarios, stays updated, and protects everyone you care about.
As your Personal Family Lawyer®, I will help you create a Life & Legacy Plan that works when you need it most. Our first step is a Life & Legacy Planning Session, where we discuss not only who gets what but also what happens in complex situations like simultaneous deaths, incapacity, or beneficiaries who predecease you.
Don’t leave your legacy to chance. Together, we can create a plan that truly protects you and everyone you love.
To get started, schedule a complimentary 15-minute consultation today and take the first step toward securing your family’s future!
