The recent passing of acclaimed actor Gene Hackman and his wife Betsy Arakawa has brought to light an important estate planning issue many couples overlook: what happens when spouses die within a short time of each other? As a Brandon estate planning lawyer, I’ve seen how the lack of proper planning for this scenario can create unnecessary complications for families already dealing with grief.
The Hackman Estate Situation
Gene Hackman and his wife Betsy were recently found deceased in their Santa Fe home. While initially investigators believed they died a week apart, new evidence from phone records has complicated the timeline. This timing question may significantly impact how their $80 million estate is distributed. Hackman left his estate to his wife and didn’t name his children. Meanwhile, Arakawa left her estate to charity.
The determination of who died first or whether their deaths should be considered simultaneous will now play a crucial role in where those assets ultimately go. As legal experts note, “If Betsy passes away first, and then Gene, his will, in a sense, would become void, because the individual he wanted his items to be passed to no longer exists in the eyes of the law.”
Why Timing Matters in Estate Distribution
When spouses die close together, several scenarios can unfold depending on your estate plan:
- No Survivorship Provisions: Without specific language addressing simultaneous or near-simultaneous deaths, assets typically flow through each spouse’s estate separately, potentially ending up far from where you intended.
- Standard Survivorship Clauses: Many wills contain default language requiring a beneficiary to survive the deceased by a certain period (often 30 days) to inherit. Without this provision, assets might pass through multiple estates unnecessarily, creating additional probate expenses and tax implications.
- Simultaneous Death Provisions: Interestingly, Arakawa’s will reportedly contained a clause stating that if the couple died within 90 days of each other, it would be considered a simultaneous death, and her assets would go to charity. This type of planning provides clear direction regardless of the technical order of death.
Essential Planning Strategies for Spouses
As your Brandon estate planning lawyer, I recommend several strategies to address these concerns:
- Create Clear Survivorship Requirements
Specify how long a beneficiary must survive you to inherit (30, 60, or 90 days is common). This provides time for your contingent plan to activate if your primary beneficiary passes away shortly after you.
- Establish Thoughtful Contingent Beneficiaries
Your estate plan should clearly name who receives your assets if your spouse cannot inherit. Without these backups, your estate may end up distributed according to state intestacy laws rather than your wishes.
- Consider a Joint Trust with Detailed Succession Planning
A revocable living trust with clear provisions for what happens if both spouses die simultaneously or within a short time of each other provides the most comprehensive protection and clarity.
- Regularly Review Beneficiary Designations
Many assets, like life insurance and retirement accounts, pass outside your will. These designations need their own contingent beneficiaries and should be reviewed regularly.
- Address Practical Matters Beyond Asset Distribution
Consider who will care for dependent children or pets if both spouses die together. The Hackman case sadly illustrated this need, as one of their dogs was also found deceased, unable to be cared for after they passed.
Peace of Mind Comes from Comprehensive Planning
The uncomfortable reality is that we cannot predict when or in what order death will come. I’ve helped many Brandon families create estate plans that provide certainty regardless of these difficult timing questions.
Would you like to ensure your estate plan protects your family from these complications? Contact our team at the Law Offices of Laurie E. Ohall at (813) 438-8503 to schedule a consultation. Together, we’ll create a plan that works no matter what life brings.