NYT: Donald Trump looks to shut down his foundation to avoid conflicts

It turns out being president is super complicated if you're a business person.

Donald Trump's camp is in the process of dismantling the charitable foundation that bears his name, one of the steps being taken to address potential conflicts of interest once he's in the White House, the New York Times reports.

The Times says that, even though Trump's team has consistently said there aren't any conflicts of interest, they're working behind the scenes to nip issues in the bud.

That includes a plan to shut down the Donald J. Trump Foundation.

That's the charity that the Washington Post has been digging into this year, reporting Trump used funds from the nonprofit to pay for personal items (paintings, a signed NFL helmet, and settlements for civil lawsuits).

There are also plenty of questions about how his business ties might conflict with being president, where your job becomes to put the country first.

And in fact, he could be breaking the law if he is president while being part of his companies, the Huffington Post said. That's because of a 2012 law that says the president (and some other lawmakers) cannot use insider information they have to make money, or help friends and family make money.

The New York Times has a great, simple explainer for some of those conflicts here. It shows how many of his business ties are regulated by government agencies – which he’ll soon have direct control over.

Trump has tweeted he’ll be separating himself from his company before he takes office, but hasn't offered details.

His kids are affected too

Trump's children are feeling the effects of their dad's new position too.

Eric Trump this week said he would stop raising money for his Eric Trump Foundation, because there are concerns it could be used to gain access to a President Donald Trump, CNN reported. The organization has raised money for St. Jude.

The Donald did not like that, tweeting this:

Eric Trump also RTed this letter, which his former foundation VP wrote, saying the children who benefit from St. Jude are being seriously hurt by him no longer being able to raise money.

Eric Trump also said he'd have no contact with his father or administration when it comes to government matters.

And the New York Times also said Ivanka Trump is looking to find an outside monitor to oversee her fashion accessory line, as well as considering ways to donate all proceeds from an upcoming book to charity.

Next Up