Shimada Law

Adam Famulary Retires

2024-12-09T15:55:51Z

Phone:

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Adam Famulary is a graduate of the University of Utah (BA) and Willamette University College of Law (JD), and is a former Staff Sergeant in the Army National Guard. Prior to founding Famulary. Masterful Attorneys, he worked at a Salem law firm. In this role he gained substantial information on the ins and outs of estate planning and probate. Adam takes pride in analyzing court cases throughout the United States that apply to his areas of practice. Furthermore, Adam regularly presents seminars to other attorneys about various estate planning issues. His articles have been published in the Central Oregon Medical Society Newsletter and the Keizertimes, among other places. His focus and determination to provide clients with the highest caliber of legal representation has led to positive outcomes for families throughout Oregon. As part of his commitment, he serves on the board of Rockwest Training Company, a Salem nonprofit company that helps disabled individuals gain the skills they need to enter the workforce. Adam is dedicated to providing asset protection and estate planning to Oregon residents, and enjoys spending time each month analyzing virtually every new court case in the United States that deals with asset protection in order to offer the best services to his clients. He prides himself in tailoring estate plans to each client's needs, regardless of how large or small their estate is. He has worked on estates of over $10 million dollars in value. Adam's trusts have held up under scrutinization of opposing counsel. Prior to opening his own law firm, Adam worked at a Salem law firm for close to two years. Adam presents seminars on estate planning and related topics on a regular basis. Adam is a member of the Oregon State Bar Association, and is a board member of Rockwest Training Company, Inc., a non-profit that helps train and employ disabled people. In his spare time, Adam enjoys teaching his daughter new things, biking, Brazilian jujitsu, golf, and just about anything else that is outdoors. Areas Of Practice

Probate
Estate Planning 40%
Trust Administration 20%

Education

Willamette University College of Law, Salem, Oregon
- J.D.
University of Utah, Salt Lake City, Utah
- B.A.
- Major: Political Science

• Mills Jacobson Halliday, P.C., Law Clerk, 2011 to 2012

New Firm Changes

2023-12-06T06:22:30Z

In October 2020, Alexis Shimada became the Managing Partner of Famulary, LLC. On January 1, 2021, Adam Famulary relinquished his interest in the firm to move onto a new career. The firm is in the process of formally changing its name and will soon be known as “[nap_names id="FIRM-NAME-1"].” Logo, website, and email addresses will be changing. You may still email the previous email addresses as they are set up to forward to our new email addresses. Our physical locations, phone number, and fax number will remain the same. Alexis Shimada is the primary attorney at the Salem office but does see clients at the Beaverton office. While our physical locations are in Beaverton (Washington County) and Salem (Marion County), we do regularly file cases into other counties.

A Message from Adam Famulary

Hello everyone. I started practicing law in 2013, and I hired Alexis Shimada in 2018. Beginning January 1, 2021, I moved onto a different career. Alexis now owns the firm, and Amanda is still an associate attorney. They are now serving my former clients. I helped train and mentor both of them, and have the utmost confidence in their abilities. You're in good hands. Take care. -- Adam Famulary

Upcoming Changes

Quickbooks: For the past 6 months, the firm has been transitioning all of its client accounting to Quickbooks. In the near future, all billing statements and invoices will be sent electronically from Quickbooks. There will be an option to pay online directly, or you may mail a check to the Salem office. We hope to start sending statements exclusively via Quickbooks by March 1, 2021 (for February billing statements). If you do not receive a monthly billing statement, it is likely because you do not get billed monthly due to the type of case we are assisting you with. If you have any questions or would prefer a paper statement, please reach out to Alexis Shimada. Blog Posts: We plan to resume posting to our blog page. Blog posts will include: firm updates, statutory changes, State and Federal law updates, general information regarding estate planning, probate, and protective proceedings. Social Media: We currently have a Facebook page. We have not been too active on that page, but intend to change that! We will be posting our blog posts both on the website and on our Facebook page. There may be posts on our Facebook page that will not be posted to our website, so we encourage you to like our page to stay as up to date as possible with firm news.

How to protect your children with an estate plan

2025-01-27T21:19:08Z

When your first child was born, you could not imagine caring for anyone more. Your children are your world and you would do anything for them. This includes making sure they are always taken care of and protected. But how can you ensure your children will be provided for if something should happen to you in the future? In fact, you can protect your children and help secure their future with an estate plan. Estate planning will help you make sure your children will be okay even after you can no longer help provide for them. Here are a few aspects of your estate plan that can help your children: Will or trust Wills and trusts are a part of estate planning and are a way to ensure your children are provided for in the future. If something should happen to you, you will most likely want to give an inheritance to your children. If you do not have a will in place, your property and assets will be distributed according to the court’s discretion and it may not be what you intend for your children. Having a will in place will make the process easier for your children to get what you think they deserve. However, depending on how old they are, they may not be responsible enough to handle a large sum of money by themselves. You can set up a trust in this situation so they can access the finances at a given time. You can also have this money invested or designated for a specific purpose, such as college tuition. Assets in a trust are not subject to probate, so your children can access their inheritance without going through court. Trusts are also more difficult to contest, another reason they make accessing an inheritance easier. Guardianship You can also appoint a guardian for your children in an estate plan. If you do not have one designated, one will be appointed by a court. Having a designated guardian is a better way to make sure your children are well taken care of. This guardian can also control your children’s trust and other inheritances. A guardian can manage your children’s assets and property as well as medical, personal and educational needs. Though you may not want to think about a time when you can no longer be there to care for your children, setting up an estate plan is the best way to protect their future. There are many benefits to estate planning and making a secure future for your children is one of them.

Who will raise the children if both parents pass away?

2025-01-27T21:19:22Z

It is something you and spouse never even considered. The thought of not being around to raise your children. It just cannot happen. Someone must raise them, be there for them and support them. Unfortunately, it is true for some couples. So, you must consider the possibility. Who will raise your children if and you and your spouse die? Your children’s future depends on if you took time to write a will or not. When you write your will, you will need to decide who to designate as your children’s legal guardian. Choosing a guardian

The guardian you select should meet your needs when it comes to raising your children.
You should consider the guardian’s age, whether they are married, their health, where they live and whether they can care for your children financially.
You should consider if your children get along with the guardian and if they feel comfortable around them. If you care about the way your children are raised morally or religiously, you should think about that as well.

If that person is not willing or able to perform the duty as the guardian, you probably should consider a second choice called an alternate guardian. What happens if you do not have a will? If you do not have a will at the time of your death and have not appointed a guardian for your child or children, friends and family members may come forward. However, ultimately it is the judge’s decision on who the guardian will be. The judge may consider evidence as to what is in your children’s best interest. The children may not automatically go to live with a sibling, grandparent or even a godparent. The judge will determine who of the relatives is ready to be a guardian for your children. If you do not have any relatives or friends who could possibly step up to take care of your children, then the judge must decide that as well and appoint someone else to do it. The financial part You can also put a plan in place to take care of your children financially in your will. You may have someone in charge of your children and another person in charge of your money. This is called the guardian of the estate. The reason to divide this is because the person may be better at managing money than they are at managing your children. It just depends on your wishes. No parents want to ever think about the possibility of not being there for their children. But it does happen. So just make sure you and your spouse are prepared if that day ever does come.

A plan as unique as your life

2025-01-27T21:13:43Z

If you have a family, you need an estate plan. It is about much more than passing on money, business, or property. An estate plan makes everything easier for those you love when something happens to you. That doesn't mean that it has to be complicated or involved. It may simply involve a will and an advance directive should you be comatose or otherwise incapacitated. You may have a lot of assets which you would like to pass on or given to a charity. But in all cases, making your wishes known is essential, and the plan you develop should be as unique as you. Where to start In all cases, a basic will and a "living will" or advance directive is essential for everyone. Without a will, the disposition of your property after your death is more complicated under Oregon law. It means that your surviving spouse or children will have much more that they have to take care of even as they grieve your passing. An advance directive is also essential if you do not want unnecessary measures taken to prolong your life in case you are incapacitated. It is also a critical starting point for all estate plans. Making your wishes known in a document that has legal standing only makes it much easier for your family should something happen to you. New federal laws Due to recent changes in federal law, anyone with a large estate needs to review and probably revamp their existing estate plan. It has been necessary in the past to set up trusts and other systems for the purpose of avoiding federal taxes which are no longer necessary. Oregon law has not changed, however. Given that there is a 16% Oregon "estate transfer tax" tax on all assets over $1 million there are still many reasons why one of many kinds of trusts should be considered. The change in federal law did lift the taxes on gifts to family members, however, and these are still not taxed unders state law. This is one of many considerations which may be new when considering your estate. What is right for you? There is never any "one size fits all" approach to estate planning. If you have a very basic plan or one that was developed many years ago, it's vital that it be reviewed. Your life may have changed as have many legal considerations. With an estate plan that recognizes both of these you can be assured that even in the worst of times for your family they will be taken care of properly.

A Surprising Reason Why You Need Estate Planning More Than Ever

2025-01-27T21:12:45Z

Estate planning, in its broadest sense, is a way to turn your wishes into a plan and make them legally binding. It encompasses things such as giving money for grandchildren’s college funds, stating who you would like to raise your children if you could not and establishing a financial power of attorney. One of Forbes’ first lists of the new year underscores another reason Oregonians need to prioritize their estate planning. Oregon is named by Forbes Magazine as one of the states on their “ in 2018” list. One of the reasons is because Oregon has a state estate tax, and another is because the tax exempts only one million dollars of assets. Here are some ways you and your heirs can benefit while reducing or eliminating your state estate tax responsibility. Claim Community Property If you’re a married couple that has moved to Oregon from a community property state such as California, Oregon law allows recognition of community property assets acquired while you were a resident of a community property state. A signed community property agreement will help reduce or erase any capital gains taxes. Give Gifts Since Oregon doesn’t have a gift tax, an attractive alternative to willing assets to family and friends is to give them gifts before you die. Under federal law, you can give 13,000 dollars per year tax-free, with a lifetime limit of 5,000,000 dollars. Form A Trust With the many kinds of trusts available to Oregon residents, it is advantageous to work with an experienced estate planning professional that is familiar with all of your applicable options. You can probate process by placing ownership of your assets in a living trust. For married couples, a bypass trust is a way to shelter up to one million dollars when the first spouse dies. Several more trust types exist for different specialized situations. When it comes to passing down assets from your estate to loved ones, you don’t have to resign yourself to a large tax responsibility. With proper planning, you can make the most of your estate for yourself and others.

How women can prepare for the risk of being suddenly single

2025-01-27T21:09:31Z

While the possibility of being single can have a big impact on either spouse, women are often more likely to face more challenges if they are to suddenly become widowed. One reason for this is that women tend to be less involved when discussing their family’s wealth management strategy. Even though the traditional gender roles of money management are shifting, men are still overwhelmingly driving conversations about money. One survey of financial advisors found that less than 3% of married women drive conversations about wealth. Additionally, more than 80% of advisors have said most of their married female clients do not have a plan in place in the event their spouse suddenly passes away. When considering these realities, it is important for couples to take steps to ensure that women are prepared if their spouse dies. These steps can help women feel more secure about their future if anything happens to their spouse. Have a complete financial inventory Since men often take control of conversations about money, it is not uncommon for a widow to feel lost when it comes to navigating her financial future. Establishing a comprehensive inventory of the family’s finances will help women understand where they can draw income from if anything happens to their spouse. This will not only help reduce the stress women may feel after their husband dies, it will also help women feel more secure about their future. Purchase adequate insurance coverage If the husband is the primary bread winner, a sudden death could have a serious affect on a widow’s standard of living. One way to be better protected against that risk is to have adequate insurance. Whether you opt to purchase a term policy or a permanent policy, make sure you have a policy that will provide enough in death benefits to help you to continue to maintain your current lifestyle. Strengthen your estate plan When a spouse dies, it can feel overwhelming trying to move forward after the death. Many important end-of-life decisions can be clearly defined within a comprehensive estate plan. Having wills, trusts and other important estate planning documents in place will provide the surviving spouse with greater peace of mind when navigating the death of their partner. Estate planning can be complex, and it is common for people to make mistakes when they try to do it on your own. Working with an experienced planning attorney can help you ensure your estate plan is appropriate for you and will help increase the chances that both spouses are adequately protected today and long into the future.

How to talk to the family about the money

2025-01-29T09:03:53Z

Many people who have accumulated wealth want to keep the money in the family. However, discussing that wealth can make for an awkward conversation. Some people see conversations about money, even with loved ones, as taboo, while others don't want their children or grandchildren to lose their motivation or work ethic if they know they have a significant inheritance coming.

According to USA Today, 64 percent of people do not have an estate plan. The apprehension to talk about money is natural, but it could be contributing to the startling statistics related to wealth and estate planning. Failing to make an estate plan can have significant consequences for business owners and people with diversified portfolios.

Although many people have a plan in the back of their mind, it isn't official until it's in writing. Without an estate plan, the state will decide how assets are divided, which may not be in accordance with those intentions. Some may want to donate a significant portion of their wealth to charity while the law would pass it on to children and spouses. How can wealthy parents and grandparents tactfully talk to their family about money? For some, it starts at a young age.

Teach children and family how to manage money themselves

Many people can become financially stable on their own when they understand the basics of business and the value of a dollar. One father quoted in Washington Post said he encouraged his nine-year-old daughter to set up a lemonade stand and calculate expenses compared to profit off of each glass sold.

Unveil wealth and estate plans incrementally as loved ones age

Another business owner said he had his children begin working at his business by age 12. Then, when his kids turn 18, he discusses his estate plan on the way to speak with the family's attorney. The father said he doesn't even sit in on his children's meetings with the attorney. Instead, he treats it as one step into the rite of passage into adulthood.

Speak with an estate planning attorney about the available options

Making an estate plan requires a candid conversation with loved ones. That conversation can be prefaced with a visit to a probate and estate planning law firm to begin outlining the future. Keep in mind that it is okay for a plan to be rewritten as situations change. A plan can also include wishes for medical care and the managing of digital assets.

Even if assets are liquid or subject to fluctuation, this can be accounted for with the right legal plan in place. While many people are unsure of how much money they have to their name or how they will pass it on, clarity starts by speaking with an attorney who understands the probate and estate planning process.

Five estate planning mistakes to avoid

2025-01-27T21:19:30Z

Reaching certain milestones in life gives you a unique perspective on and clarity about the future. Perhaps as it is as you prepare to you walk down the aisle or as you prepare to welcome your first child into the world. These moments often make you stop to take the essential step of writing an estate plan to create concrete plans for the future. However, according to Fortune, despite the best intentions you may have to create a good estate plan, you may not achieve your goal. You may make some of the five most common mistakes that many people make. A common mistake that you can make is that you do not create a plan. There are so many reasons for this. You may wait to write a will because you think that you are too young. You might wait to do estate planning because you don't think you need it. No matter why you don't, putting off the essential step of putting your wishes clearly down on paper may create problems later on. Another mistake is to only write a will. While it is important to write a last will and testimony in which you establish to whom you would like to leave what, your estate plan should use a variety of tools depending on your needs and circumstances. Some of these tools include:

Revocable living trusts
Durable power of attorney
Living will/advance directive

These tools along with your will which is often the corner stone of your plan may or may not be right for you. It's important to discuss your particular needs with an estate plan attorney. A third common mistake is to not update your plan. You may have taken the step to do some solid estate planning. But, life happens and these changes influence your estate plan needs. You should update your plan after:

Marriage or divorce
The birth or adoption of a child
Any major financial change

Remember, plans are nothing but planning is everything. A fourth common mistake is to not communicate your wishes to others. As hard as it may be to ask a loved one to be the executor of your estate, or to explain certain financial or medical choices to them, it may help matters later on. Last but not least, it may be a mistake to not at least consult lawyer. Allowing an estate planning attorney to guide you through this process can be invaluable as you create your personalized plan to fit your individual needs. These mistakes are very natural to make, but that doesn't mean that you will make them. However, if you or your loved one is interested in starting the estate planning process, you it may help to contact a knowledgeable estate planning attorney to discuss your questions about your particular situation.

3 smart options for passing on your family business

2021-01-20T09:24:54Z

The baby boomer generation is full of entrepreneurs. Many have chosen a path of independence and cultivated successful businesses. As the generation matures many baby boomers are making decisions about the future of their companies. Deciding the best way to pass on a family business can be complicated. There are multiple choices to pick from and each one has its own repercussions. The following list does not include every possible option but highlights some popular choices. 1. Pass the business on as a gift Some business owners prefer to give their company to heirs in the form of a gift. This option is complicated by state gift tax. Under federal law business owners can give up to $5.45 million before gift tax kicks in. Unfortunately that number is the total amount of assets passed on to your heirs, which can include your house, stocks, and bonds. If the business is shared between you and your spouse then a married couple can give up to $10.9 million in total before taxes. This option is great for some small business owners but many choose another way to save money. 2. Leave business assets in trusts Trusts are a great option for passing on a family business. You can transfer assets into a trust and also receive monthly income payments for a set amount of time. Once the owner has passed on the assets in the trust are transferred to beneficiaries. One of the major benefits of passing on a company through a trust is that it protects the successor's stake if they get divorced or sued. 3. Sell discounted shares In this method you can sell discounted shares to your heirs at a cheap and legal interest rate. It is basically borrowing your beneficiary money to buy interest in the company. If your business makes up more than 35 percent of your adjusted gross estate then your kids can pay tax payments over 14 years - the first five years being interest only payments. This can save you and your beneficiaries a lot of money. Again these are just some of the most popular methods of passing on the family business to family. Each method has its own benefits and consequences. Due to the complications involved it is advised that you seek the help of an attorney to create a business transition plan for your company.