Theodore Presser, being the structured and ambitious man he was, had several drafts of his will made decades prior to his death. In the Presser Foundation Collection, the earliest draft dates to 1909, and the latest dates to April of 1925, all with their own unique edits.

Upon his death in 1925, Mr. Presser had been widowed twice without children. The bulk of his fortune was left to The Presser Foundation, which sought to promote the causes of musical education and musical philanthropy by providing scholarships for promising students, supporting the construction of buildings for music organizations, and directing aid to retired music teachers.

"The 'THEODORE PRESSER FOUNDATION' which I direct shall, with all accretions thereto, be held as a Trust Fund to promote primarily the cause of musical education and musical philanthropy."