Gene Hackman and Wife Betsy's Wills Revealed: What Happens to Their Estate?

Mar. 15, 2025

Gene Hackmanand his wifeBetsy’s wills have been revealed over two weeks after they were found dead in their home on Feb. 26.

In the event of Betsy’s death, Gene had appointed attorney Michael G. Sutin as his first successor for personal representative of his state. Sutin died in 2019, according to anonline obituarythat described him as a Santa Fe attorney who died in Texas.

With Sutin’s death, Gene appointed Julia L. Peters as his second successor for personal representation of his state. Peters is chief counsel at Avalon Trust Co., a Santa Fe investment firm. Peters' biography onAvalon’s websitedescribe her as a former managing partner of the Sutin, Thayer & Browne law firm.

Betsy Arakawa and Gene Hackman.Jeffrey Mayer/WireImage

Jeffrey Mayer/WireImage

The Oscar winner had also appointed the remainder of a trust titled the GeBe Revocable trust in favor of Betsy as the successor trustee of his trust, per a September 1995 agreement. Peters' court documents filed alongside Gene’s will identifies Gene’sthree adult children— Christopher, 65, Elizabeth, 62, and Leslie, 58, whom he had with first wife Faye Maltese — as his heirs. The court granted Peters an informal appointment as the personal representative of Gene’s estate moving forward.

Betsy Arakawa and Gene Hackman on Nov. 7, 1988.Ron Galella Collection via Getty

Ron Galella Collection via Getty

Betsy’s will was signed on the same date as Gene’s in 2005. Her will details that expenses incurred from her death, funeral and administration of her estate would be paid out of her estate. The will states that Betsy may have made a statement or list separate from the will that indicates whom she would give her personal property to.

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Legal expert David Esquibias, who is not affiliated with this matter, tells PEOPLE it is impossible to say who the beneficiaries of Gene’s trust are because that information has not been made public.

“When you have a married couple, the issue is who dies first, and in this case, Betsy died first, so she left everything to the Gene Hackman trust. He outlives her. So he theoretically inherits from Betsy into his trust, and then when he dies, his trust goes to whoever his trust beneficiaries are,” Esquibias says. “In this case, we don’t see who the beneficiaries are of the Gene Hackman trust because the Gene Hackman trust hasn’t been either publicly released or it’s not part of the probate proceeding. Typically though, the probate proceeding, at least in California, the trust is usually included.”

Betsy had appointed Gene as her personal representative of her estate and Sutin as an alternate. Peters was also her second alternate.

Hackman, 95, died from a combination of severe heart disease, high blood pressure andadvanced Alzheimer’s disease, authorities said.

source: people.com