Gene Hackman and his wife were found dead in New Mexico, raising queries about his $80 million fortune. His will names Betsy Arakawa Hackman as the successor trustee of his living trust, ensuring that the distribution remains private unless contested by his children. Legal experts highlight that such trusts typically keep the estate's details confidential, a common practice for wealthy clients. The fate of Hackman's assets hinges on whether his heirs decide to challenge the will, potentially making the trust public and revealing its contents.
I give my entire estate to Betsy Arakawa Hackman, as the Successor Trustee of the Gene Hackman Living Trust, under trust agreement dated September 22, 1995, as amended and restated from time to time.
Most practitioners use this type of arrangement for almost all clients of a certain level of wealth. Hackman's will, a 'pour over will', is a very common practice to avoid having the disposition of the estate become public.
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