McCarty drew global attention after it was announced in July 1995 that she had established a trust through which at her death, a portion of her life's savings would be left to the university to provide scholarships for deserving students in need of financial assistance.

Over time, Trustmark Bank personnel noticed McCarty's accumulated savings and began to assist her in future estate planning as well as be unofficial guardians for her.

(Bank employees and other friends convinced McCarty to purchase two small window air conditioners for her house and cable television service.)

With the assistance of a local attorney, for whom she had done laundry, and the bank's trust officer, using slips of paper and dimes, to represent 10% shares, McCarty set out the future distribution of her estate.

In June 1996, Harvard University awarded McCarty an honorary doctorate alongside Maya Lin, Walter Annenberg and Judith Jamison.

In recognition of the 25th anniversary of McCarty’s unexpected planned gift to USM, a virtual celebration featured interviews with special guests and the unveiling of a sculpture.