Probate FAQ

Estate issues can be complex, especially probate. If you’ve never been an executor or even inherited before, you probably have a lot of questions, which is why we dedicated this blog to frequently-asked questions about probate in New York. Do All Wills Need to be Probated? In New York, wills are required to be probated only when the decedent left an estate worth $50,000 or more. Only property that was Read More

How Child Custody is Determined in New York

In the state of New York, family courts make their child custody decisions based on what they consider to be in the “best interests” of the child. While this is the same in most states, different states have different ways of defining the child’s best interests. In today’s blog, we’re discussing how you can expect New York family court to make decisions about your child custody matter. A Case-By-Case Basis You Read More

Chapter 7 Vs. Chapter 13 Bankruptcy: What’s the Difference?

Of all the things you could declare in life, bankruptcy is certainly the least fun. Not only are you likely to lose your property after declaring bankruptcy, but it’ll destroy your credit rating for a good decade or so. However, not all bankruptcy claims are created equal, with each one having some distinctions that are worth remembering. If you’ve ever been on the brink of declaring bankruptcy, you know how awful Read More

How Estate Planning Can Help You If You Get Sick

When thinking of estate planning, most people think of making arrangements for what will happen to their assets after they pass away. This is definitely part of it, but the truth is, it doesn’t even come close to capturing the full scope of estate planning. A huge part of estate planning that most people don’t even consider is that it allows you to make arrangements for what will happen if you ever get seriously Read More

End of the Road? How to Properly Dissolve Your Small Business

The coronavirus pandemic has been hard on businesses. While some small business owners are finding creative solutions to move forward, others are making the difficult decision to call it quits and move onto their next chapter. If you fall into the second group, you may have questions about the technicalities of shutting down your business. While every business is different and your exact path will depend on your Read More

Served with Divorce Papers: What Now?

Divorce proceedings officially begin when one spouse serves the other with divorce papers. Sometimes you know it’s coming and sometimes it’s a complete surprise, but either way being served can be a very emotional event. Nonetheless, it is important to get to work as soon as possible to begin protecting yourself for the future. Once you’ve taken a moment to gather yourself emotionally, these are the steps you will Read More

A Brief Guide to the Section 1031 Exchange

What can you do to legally reduce the amount of tax you have to pay? If you invest in real estate a 1031 exchange, named after Section 1031 of IRS Code, is a valuable resource that you may want to look into. It might allow you to increase your net worth without having to pay up to 35% in taxes. A 1031 exchange is a transaction in which you exchange a property for another similar property and defer the tax Read More

How Child Support Amounts Are Calculated in New York

If you are facing a divorce in New York, you likely have questions about how our state handles child support. In New York, you may be required to make child support payments even if you share custody 50/50 with your co-parent. In these situations, the parent who earns less is usually treated as the “custodial parent” and the other parent pays child support accordingly.  New York has its own formula for determining Read More

Three Reasons Coronavirus Makes Estate Planning More Important Than Ever

These unprecedented times are scary for us all. The information, numbers and data continues to pour in daily. While it seems that COVID is mainly life-threatening for the elderly and immunocompromised, so much remains unknown, and the information is constantly evolving. For many, this is a wakeup call. Between accidents and undetected medical issues, the young and seemingly healthy have never been death-proof, but Read More

What You Need to Know About New and Evolving Programs in NYC

Things are changing rapidly in light of the COVID-19 pandemic that is sweeping the globe. The Drucker & Mattia team is committed to serving our clients throughout this hectic time, as well as to providing NYC business owners and families important information that may be relevant to them. In today’s blog posts, we’re looking at a few different programs that the City and State are rolling out to provide relief for Read More