A gift to a charitable lead trust provides an immediate income tax deduction and other tax benefits, while providing current funds to the Law School. When you establish a charitable lead trust, the Law School will receive payments during one or more lifetimes or a specified term. At the end, the assets pass outright or in trust to you or other non-charitable beneficiaries. (You will notice, this is essentially the mirror opposite of a charitable remainder trust.)
Charitable lead trusts are particularly beneficial for your estate plan if you have assets with great appreciation potential. Many people use these trusts to pass very valuable properties to children and to grandchildren with tremendous tax advantages.