Why the timing of Gene Hackman’s death will affect his $80 million fortune

Gene Hackman’s tragic death alongside his wife, Betsy Arakawa, has raised several questions about the fate of their $80 million fortune, including the $3.8 million Santa Fe home that they passed away in.
Their bodies were discovered on February 26, with Gene having collapsed to the ground in their mud room and Betsy found on the floor of their bathroom, just meters away from their beloved dog, Zinna.
Recent police reports cleared up many questions about their mysterious deaths, revealing that Gene passed from heart disease seven days after Betsy died from hantavirus, a rare illness spread through rodents.
The gap between their deaths meant that Gene, who suffered from Alzheimer’s disease, likely had not eaten since Betsy died, confirmed by the lack of food found in his stomach during the autopsy.
Their different death dates could have a significant impact on their large fortune, according to Kevin Holmes of Holmes Law Firm, who spoke to the Daily Mail.
“In a lot of states, including New Mexico, there’s a kind of presumptive triggering deadline of five days before you’re considered having survived under the terms of most wills,” he said.
If they had died within 120 hours of each other, under New Mexico law, their deaths would be considered simultaneous, impacting how their estate would be divided.
While the details of their wills are unknown, Betsy’s early death could mean that her assets would transfer to Gene rather than her family, and would in turn transfer to whoever the actor named in his will.
It is unclear if they had signed a prenup during their romance, and Gene’s Alzheimer’s diagnosis could affect the validity of his will depending on when it was signed.
Betsy had no children of his own, while Gene welcomed Christopher, Elizabeth and Leslie with his first wife, Faye Maltese.
“It is with great sadness that we announce the passing of our father, Gene Hackman and his wife, Betsy,” said Elizabeth, Leslie, and his granddaughter Annie in a statement.
“He was loved and admired by millions around the world for his brilliant acting career, but to us, he was always just Dad and Grandpa. We will miss him sorely and are devastated by the loss.”
Leslie later spoke to the Daily Mail about her father’s passing, praising Betsy for his longevity.
“They had a wonderful marriage. I give credit to his wife, Betsy, for keeping him alive,” she said.
“[Betsy] took very, very good care of him and was always looking out for his health. So I am appreciative to her for that, and I’m very saddened by her passing.”
Gene made his fortune starring in smash hit films like Superman, The French Connection and Bonnie & Clyde.
After the father of three retired in 2004, he and Betsy lived a quiet life in Santa Fe with their three dogs, Zinna, Bear and Nikita.
Zinna was found deceased in the couple’s home, although the pup’s cause of death is still unknown. Their other two dogs were roaming the property when investigators arrived on the scene.
Source: HelloMagazine