Creative Retirement Planning by World Traveler Benefits UNC Asheville, Other Charities

The idea of establishing a charitable remainder unitrust was introduced to the couple by their financial advisor as an instrument to eliminate estate taxes, bypass capital gains tax, and make gifts to charitable organizations that were important to them. After her husband's death from cancer, Marion acted decisively and put the trust in place quickly, funding it with appreciated stock. As a charitable trust, it could sell the stock without paying capital gains tax. She also got a generous tax deduction for a portion of the value of the trust. As long as she lives, Marion will receive income from the trust on a quarterly basis. After her death, the remainder will be distributed to the charities she has named, including UNC Asheville.

Growing up in Southeastern Pennsylvania, Marion possessed a curiosity and adventurous spirit that guided many later decisions. With a degree in Bucknell University, she began a short-lived career in teaching. Realizing that this was not her niche, she went off to New York to the Katharine Gibbs Secretarial School where she completed a one-year expedited program for college graduates. Living in various women's residences, popular at that time, enriched her experience. At one she worked part-time as an elevator operator; at another, she was the only person practicing typing while others practices their arias. Her favorite was the Salvation Army residence on 13th Street where hospitality and kindness were dispensed along with excellent accommodations at a reasonable price. This experience fostered a lifelong loyalty to the Salvation Army.

From New York, Marion moved to Washington, D.C., and a five-year stint with the Central Intelligence Agency where she met a young man from Oklahoma, Mack Johnson, who, in spite of a degree in journalism, had also found his way into the government maze. He reentered her life later.

When a Montana vacation offered an opportunity to indulge her fascination with the West, Marion went to work on dude ranches in Montana and Arizona for room, board and the opportunity to ride horses and go on pack trips. But then a job offering interesting work and travel became available with the Undid States Foreign Service, and Marion embarked on a 20-year career with the State Department that took her on assignments to Greece, Thailand, Canada, Curacao, Sweden, and Switzerland.

Retiring in her early 50s, Marion reconnected with her Mack, now working as a journalist. They married and settled happily in Albany, N.Y., until snow and harsh winters drove them south. They adopted their new home state of North Carolina with zeal and became involved in the North Carolina Center for Creative Retirement at UNC Asheville. Marion continues to be active in NCCCR's College for Seniors, enjoying courses in history and finance.

When Marion established her charitable remainder unitrust in 1998, the stock market was exploding. With the current market downturn, she reassessed the situation, and wanting to be sure a scholarship at UNC Asheville became a reality, she made and outright stock donation to the Foundation to endow the Marion E. Mayfield-Johnson and Edward M. "Mack" Johnson Scholarship. An added benefit is knowing funds will immediately go toward helping students attend UNC Asheville and that, hopefully, after she is gone her CRUT will enlarge the endowment.