Bankruptcy is a major financial decision that requires careful consideration before moving forward. It's important to understand that there is no shame in filing for bankruptcy, despite what public perception may be. People face these decisions to eliminate insurmountable debts every day, and we want to empower the people of New York to make the right financial decisions given their own situations. Chapter 7 Read More

Estate planning is essential for people of all ages. This is especially true in New York City, a city with unmatched vibrance and, frankly, unpredictability. Thorough estate planning is crucial to protect yourself, your finances, your family, and your legacy. The primary aim of any estate plan is to preserve assets and wealth, ensure your chosen heirs and beneficiaries are taken care of, and lessen the burden of Read More

When leasing commercial property, it's easy to overlook critical details in the expensive lease agreement. Due diligence exists so you (and your attorney) have the time to proactively mitigate problems now rather than when they’re discovered later. This is a part of being a smart business owner. In New York City alone, thousands of commercial leases are signed yearly, forming the backbone of many small and Read More

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

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

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

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

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

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

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