William Donald Schaefer’s Will Revealed
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BALTIMORE (WJZ) — We all knew William Donald Schaefer was a generous man with his time. Now details from his will show he was pretty generous with his money, too.
Mike Schuh has more.
The last version of his will was signed two years ago. He had about $2.5 million in assets at the time of his passing. He remembered those he loved with gifts big and small.
The great man has gone on. His mark is all over this town and the state. Now, in his 11-page will, he says a final thank you to the people and groups he loved.
Simple things like his stamp collection went to friend Jeannie Bell.
“What he wanted all the people he served to remember are two words: he cared,” said Lainey Le-Bow Sachs, Schaefer’s longtime aide.
His last will and testament remembered 31 people and groups, everywhere from $1,000 to $500,000. The University of Maryland’s Hilda Mae Snoops Nursing Center got $50,000.
“It’s really about the individual student. Fifty thousand dollars might not seem much for an institution this big but it is to the undergrad who will get this money. That’s where the true benefit is from,” said Jane Kasputin, Univ. Of Maryland School of Nursing.
There is also an institution with his name on it that’s being remembered. The William Donald Schaefer Center for Public Policy received $15,000. It’s an institution he started 25 years ago.
“We’re thrilled he remembered us in his will. It’s an unexpected honor and it symbolizes his commitment to public service,” said Ann Cotten.
School Superintendent Nancy Grasmick is asked to use $2,500 for the educational needs of Maryland school children. Longtime friend Gene Raynor was given $2,000. The aquarium, the place which cemented his name and image in the minds of millions, received $2,500. The zoo was given a similar amount.
The remainder of the estate, 25 percent, goes to Lainey LeBow-Sachs and the rest to the William Donald Schaefer Foundation.
The proceeds from his estate should be distributed in nine months to a year.