When you create a charitable remainder trust, you guarantee a gift to Duke School in the future. In return, you receive both an annual income from the assets you use to fund the trust and an immediate tax deduction. A charitable lead trust works the opposite way. Duke School receives an annual income stream from the trust assets for a period of time, then the remainder goes to your heirs.
Remembering Duke School in your will through a charitable bequest reduces the amount of your estate that is subject to estate tax. To make a bequest to Duke School, contact your attorney. A provision to remember Duke School can be added as simply as "I give and bequeath to Duke School, ____ percent of my total estate (or $_____, or other property)."
Duke School's gift year ends June 30, but you may want to contribute by December 31, to take advantage of current year tax benefits.