Wills. Estates.
A post asked about wills & what happens when order of deaths cannot be determined, i.e. if deaths are presumed to have occurred in order of seniority, so the younger decedent is deemed to have survived the elder decedent.
In the US, it varies by state, but most states, including NM, have adopted the Uniform Simultaneous Death Act *which is intended to alleviate the problem of simultaneous death in determining inheritance.*
In NM as part of its Probate Code: "Requirement of survival by one hundred twenty hours"
"... an individual who is not established by clear and convincing evidence to have survived
an event, including the death of another individual, by one hundred twenty hours is deemed to have predeceased the event."
Hypothetical about a NM couple, w each having some assets, financial accts, etc in own name.
If each had a will providing that the other would inherit some or all, &
If they died w'in 120 hrs of each other, i.e., ~ 4 1/2 days, &
If neither of their wills included a clause setting forth a time other than 120 hours,
Or if neither had a will & died w’in 120 hrs of each other.
Then…
… each of their probate estates would be distributed as if the other had pre-deceased them.
IOW, Harry Husband’s probate estate, whether he died w or w’out valid will, would be distributed as tho Wanda Wife died before he did. And vice versa w Wanda Wife’s probate estate.
For couples dying close in time to each other, where the order of death cannot be established, without the USDAct, the property of one decedent would be subjected to delays & legal expenses of probate two times, instead of only once. For more detail, see USDA link.*
I referred ^ to a generic H & W, not specifically to Mr. H. or Ms A.; it’s likely imo that they MAY have established individual trusts and/or a joint trust* (looks like one or both did). ***
And w certain, specific clauses most likely in those instruments, ^ NM statute would not be applicable. They may have been holding all their property titled in trust name, and there may be no property which is distributed thru their wills thru probate court. Personally making no predictions just raising possibilities.
Another point about Hackman’s estate -again generically speaking re an actor, a painter, an author of books – there may be royalties or other residual income from his work, which may be generated for years. Making it more likely imo that Hackman established a trust -or multiple trusts - possibly w Arakawa. I got the impression that the ownership or partial ownership in businesses (like hers w a SF retail store & his in SF restaurant) had been sold, but ICBW.
Let
Estate planning attorneys who draft trust documents tailor them to the client’s wishes, w one common concern being to maintain privacy re financial matters by avoiding probate court altogether. Identity of the beneficiaries of a trust & $ amts. of transfers are not often made public.
There may be bequests to friends, charities & other org’s, & relatives by blood or marriage.
I doubt that we can accurately predict the distribution of estates of either Mr. H. or Ms A.
If anyone, esp’ly a legal professional here, has differing opinions, I welcome other interp’s.
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*
Uniform Simultaneous Death Act - Wikipedia
** New Mexico Statutes Chapter 45. Uniform Probate Code § 45-2-702
*** Info on file w the SF County Assessor's office indicates that title to 1425 Old Sunset Trail is held by a trust presumably established by Mr. H. and/or Ms A. Based on the existence of that trust, either individually or as a couple, imo likely that they received estate planning advice from attorneys knowledgeable in the field. Another thought: When they married, they were ‘not kids starting from scratch,’ so they may also have executed a premarital agreement, as part of estate plans.
