Wallace was born in Spring Hope, NC, Nash County.  His family moved to Greensboro, NC in late 1962.  He was the youngest of five children of Fletcher Frank and Dorothy Dawson Marshall who preceded him in death.  He was also preceded in death by his two oldest brothers, Willie Bernard and Larry Donnell Marshall.

After leaving high school, he enlisted in the U. S. Army as an 82 ^nd Airborne paratrooper. Upon returning to Greensboro in 1983, he attended Rutledge College where he graduated with AS degree in Merchandising.   He applied this knowledge to his employment with Carolina By-Products, Stockhausen, Sears and Olympic Products in Greensboro, NC.

Wallace was married to Lynn Jones in 1980 and to this union Wallace L. Marshall, Jr. was born. This union was dissolved and in 1992 Wallace married Christine Lloyd and to this union Christopher and Chedrick Marshall were born. Wallace also fathered Jessica Smith from childhood to adulthood along with his three boys.

Wallace attended Center Christian Church in his community while growing up. He and his family later joined Mt Zion Baptist Church after his marriage to Christine in 1992.  He faithfully served at Mt. Zion until he moved his membership back to his home church, Center Christian Church. Upon rejoining he immediately dedicated himself to serving at the church as a Choir member, Usher, Deacon, Adult Sunday School teacher, Sunday School Superintendent and Chair of the Board of Directors.

He leaves to cherish his memory wife, Christine Lloyd-Marshall of Greensboro; two sons, Christopher Marshall and Chedrick (Dansirae) of Greensboro, NC; daughter Jessica Crockton (Jarrell) of Charlotte, NC; two brothers, Fredrick Marshall (Janett) of Elon, NC and Leroy Marshall of Greensboro, NC; grandchildren, Cheyenne, Dorinda "Moe", Kaekyn "KK", Jaelle, Chris Jr, Chedrick Jr, Josiah "JoJo", Deion and Denver Marie; and a host of other relatives and friends.

Public viewing of Mr. Marshall, Sr. is 9:00 am - 5:00 pm Sunday at Hargett Funeral Service, Inc., 905 East Market Street,  Greensboro, NC.  The private funeral service is Monday, June 29, 2020 is at the Goldie Hargett Memorial Chapel. Visitation begins 12:30 pm with the ceremony beginning 1:00 pm.  Live streaming of the service can be found at https://boxcast.tv/view/mr-wallace-l-marshall-sr-561526 and the password is marshall062920.