Planning for Shareholder Death and Disability in Low-Income HFDC Co-ops

This program provides a practical, end-to-end overview of estate planning and administration issues that arise when a shareholder in a low-income Housing Development Fund Corporation (HDFC) cooperative dies or becomes incapacitated. Designed for attorneys advising HDFC residents, boards, and family members, the program addresses both foundational concepts and the unique legal challenges presented by these cooperatives.

The program begins with an overview of HDFC co-ops, including their history, the communities they serve, and the statutory and regulatory framework governing them. Faculty will review common forms of regulatory agreements and proprietary leases, with particular attention to income limits and resale restrictions that significantly affect estate planning and succession.

Building on this framework, speakers discuss best practices for preparing wills and estate planning documents for HDFC shareholders, including healthcare proxies, living wills, powers of attorney, and appointments of agents to control the disposition of remains. Special emphasis are placed on co-op–specific considerations that can impact these documents.

The program examines common estate administration issues that arise following a shareholder’s death, including situations where death occurs in the apartment, cases involving intestacy, the role of the Public Administrator, and challenges related to unpaid maintenance. The faculty also explores HDFC-specific complications, including how income restrictions and resale limitations affect estate administration and transfers of ownership.

Speakers

Debra Bechtel, Professor Emerita, Brooklyn Law School, Brooklyn, New York 

Rachel Jaffe, Esq., Goldstein Hall PLLC, New York City, Albany and New Rochelle 

Jarrett Roth, Esq., Schwartz, Sladkus, Reich, Greenberg and Atlas, New York, New York

Mindy Stern, Esq. , Schwartz, Sladkus, Reich, Greenberg and Atlas, New York, New York

Daniel Weisz, Esq., Law Offices of Daniel Weisz P.C., Scarsdale, New York