TIME Donald Trump

Donald Trump Is Separating Himself From, But Not Selling, His Businesses

He will hand control to his two sons and a business ally

Donald Trump plans to put all his business assets in a trust and hand control of his company to his two adult sons and a longtime business executive to allay concerns about conflicts of interest.

A lawyer who worked with the Trump Organization on the plan says Trump is planning to make the change by Inauguration Day, relinquish control over the Trump Organization and isolate himself from the business.

The lawyer says the company will do no new foreign deals but can pursue domestic ones, and says that the Trump Organization will appoint an ethics adviser to its management team who must approve deals that could raise concerns about conflicts.

The lawyer spoke to reporters before Trump’s news conference, the first since his Nov. 8 election, and requested anonymity to discuss details of the plan.

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