I have concluded that Tim Whatley, Hal and Walter White are the same person:

And it makes complete and total sense. At the conclusion of Seinfeld Tim Whatley, Jerry's former girlfriend Amy, Elaine's former boyfriend Ben, and Tom Pepper who played Kramer in the Jerry Pilot were all enraged that Jerry, Elaine, Kramer and George only got 1 year in prison, they then formed a plan to have all of them whacked in prison and Tim Whatley was put in contact with a group of White Power Neo-Nazis who had all four of them whacked in prison. Tim Whatley just could not stand that Anti-Dentite or anyone who chose to associate themselves with that Anti-Dentite. Ben on the other hand knew a guy named Ed who ran a vaccum cleaner business which was a front for his real business which was erasing people's identities and giving them new ones. He then called Ed and asked for a dust filter for a Hoover Max Extract 60 Pressure Pro. Ed gave Tim Whatley a new identity as "Hal", Amy became "Skyler Lambert", Ben became "Jimmy McGill" (who later adopted the name Saul Goodman), and Tom Pepper became "Ol Joe". Skyler and Jimmy relocated to Albuquerque while Hal and Joe relocated to the Tri-County area but shortly before the group split Hal and Skyler had a romantic encounter.

Upon arriving in the Tri-County area Hal reconciled with a former girlfriend of his Lois and it turns out they had four children together: Francis, Reese, Malcolm and Dewey. Joe on the other hand became homeless. Over the years Hal just couldn't stand Lois's constant yelling, Francis constantly getting in trouble, Reese being a complete dumbass, Malcolm being a complete know it all, and Dewey being a self righteous little brat. Things didn't get any better when Hal and Lois had another child Jamie. Eventually Hal had a complete mental breakdown and decided he was going to use the Neo-Nazis again to kill the family so he could escape from them but he later found out that Malcolm had played chess with George in the park. It turns out George survived the prison shanking and the Neo-Nazis couldn't be trusted. Hal then found Joe and told him that if he killed Lois, Francis, Reese, Malcolm, Dewey, Jamie and George he would pay for him to relocate and start his own business. Joe was more than willing to do this because the hatred he felt for George was unbearable, it was George who accused him of taking the raisins and that was something he just couldn't let go, this kill was personal. Plus once word got out at how bad the Jerry pilot was everyone associated with it became the joke of the TV industry and no one would hire Tom as a result causing his acting career to completely evaporate. So Joe killed all 7 of them and Hal once again called Ed for a dust filter for a Hoover Max Extract 60 Pressure Pro. Ed decided to let Hal choose his next alias , however it wasn't necessary to erase Joe's identity because Joe was just a homeless bum and no one knew who he was.

They both then relocated to Albuquerque and Walter spent the last money he had setting Joe up with a junkyard business, while Walter reconnected with Skyler and it turns out she gave birth to his child years ago who was named Walter. Hal decided to use this name as his new alias so he became Walter White. Skyler and Walter then decided to get married meaning the child Walter became Walter Jr. and both of them assumed the last name "white"

BTW I choose not to think of Better Call Saul as canon in this universe. This also explains why Walt was a little uneasy of hiring the Nazis at first, they were unreliable, they failed to kill George the first time, it also explains why he was so insistent that they do the job correctly when they had those 10 prisoners whacked.