HNIs face hidden tax traps in flawed trusts and real estate documents
High-net-worth individuals (HNIs) and asset owners are being advised to conduct a comprehensive audit of their wealth structures, as experts warn that poor documentation and improperly drafted trust deeds could expose them to significant penalties under Nigeria’s evolving tax regime.
According to Lolade Ososami, Partner at Udo Udoma & Belo-Osagie, proper documentation is the cornerstone of effective succession planning, particularly when real estate is involved. She emphasized that all ownership documents, such as Deeds and Certificates
According to Lolade Ososami, Partner at Udo Udoma & Belo-Osagie, proper documentation is the cornerstone of effective succession planning, particularly when real estate is involved. She emphasized that all ownership documents, such as Deeds and Certificates
High-net-worth individuals (HNIs) and asset owners are being advised to conduct a comprehensive audit of their wealth structures, as experts warn that poor documentation and improperly drafted trust deeds could expose them to significant penalties under Nigeria’s evolving tax regime.
According to Lolade Ososami, Partner at Udo Udoma & Belo-Osagie, proper documentation is the cornerstone of effective succession planning, particularly when real estate is involved. She emphasized that all ownership documents, such as Deeds and Certificates