Succession Planning In 7 Steps

Every business owner should have a plan for what happens to their business when they can no longer run it. At Drucker & Mattia, PLLC, we are accustomed to assisting our clients with estate planning and business law matters, and succession planning happens at the crossroads of those two practice areas. A sound and well-drafted succession plan is the equivalent of creating a roadmap for your business's future Read More

The Business Laws Your Small Business Should Know

In today’s market, small businesses are a driving force. They bring innovation, growth, and vitality to the economy. Still, running a small business has unique challenges, especially regarding legal matters. Navigating the complexities of business law is essential for these businesses to survive and thrive. Understanding Business Structure and Contracts A fundamental step for any small business is choosing the Read More

Navigating Tenant Screening: Balancing Legal and Ethical Responsibilities

Securing an ideal tenant for a rental property can be a meticulous task. The goal is clear: landlords aim to identify individuals who will maintain their property, ensure timely rent payments, and respect others within the community. Tenant background checks have become an essential tool to determine risk levels. However, landlords should understand the limitations of these checks. They are fundamental to maintaining Read More

Prenuptial Agreements: Planning for the Future in Marriage

When two people decide to merge their lives through marriage, they often envision a journey filled with love and companionship. They do not stop considering this union's legal and financial implications. Marriage, in its essence, is as much a financial merger as it is a romantic relationship. A prenuptial agreement is a critical (often overlooked) step in acknowledging and addressing one's financial components. It Read More

LLC Formation & Asset Protection In NYC

Part of being an entrepreneur is diverting attention away from the business and toward protecting your assets and mitigating inherent risks. This is why many people form Limited Liability Companies (LLCs). They are formidable business structures that are relatively simple to create and manage—and they prevent your personal assets from being taken to repay debts that were taken on by the business. The driving force Read More

A Guide On Transfer Taxes in NY Real Estate Transactions

Buying or selling real property comes with additional expenses, which must be factored into the decision-making process. Although there are several, we will examine the transfer taxes which New York City and the state can impose. Understanding them is critical because they have a direct impact on transaction costs. Buyers and sellers should know what they are, the different types of taxes, possible exemptions, and Read More

Navigating The Rental Landscape By Understanding Landlords’ Rights

Living in New York not only immerses you in a cultural and professional hub and an opportunity for real estate investments. With more than 3.1 million occupied housing units in New York City and over two-thirds rented, landlords play a crucial role in the housing dynamics. As a landlord, it's vital to understand both your rights and responsibilities. This ensures that your venture in the New York property market is Read More

Demystifying Spousal Support In New York Divorces

Understandably, going through a divorce is challenging and emotionally taxing. That element is never lost on us, even as a family that assists clients with their family law cases. Whereas we can guide you through each component of the divorce process, we wanted to go over a specific piece: spousal support. Although money doesn’t buy happiness, not having it creates further stress during an uncertain time in your Read More

Looking At Airbnb From A Legal Perspective

Some of the most enticing business ideas are the ones that have a low barrier to entry. We will discuss Airbnb in a moment, but this concept is prevalent in markets such as Software of a Service (SaaS). There are reduced infrastructure costs, it’s scalable, and businesses can derive value and benefits quickly. We are discussing SaaS in a blog about real estate because many of these qualities exist within Airbnb. You Read More

The Importance Of Understanding An Executor’s Role

You have several essential duties if you’ve been named an executor. The responsibility can be overwhelming and challenging, but your obligations will become more manageable with proper planning and attention to detail. Executors can be held personally liable for any missteps, so it's essential to have an experienced attorney to guide you through the probate process and ensure everything goes Read More