The Trump Foundation has agreed to "dissolve under judicial supervision" and donate its "remaining assets" to approved charities amid a lawsuit alleging Trump used it for personal and political gain, New York Attorney General Barbara Underwood announced Tuesday. The foundation's remaining assets of about $1.7 million, per a recent tax return, will be donated to charities chosen after "review and approval by the attorney general," a press release says. Underwood filed the lawsuit in June, alleging Trump used the charity as his personal "checkbook." The lawsuit will continue as it seeks $2.8 million in restitution and "a bar on Trump and his three eldest children from serving on the boards of other New York charities," per the attorney general's statement.

Scroll for 5 things you
need to know now