The inaugural BottleRock Napa Valley will bring over 50 artists to Napa, including favorites like Ben Harper, Blues Traveler, Zac Brown Band, Brandi Carlile, The Black Keys, The Shins, Cake, and The Wallflowers, among others. Since the festival’s original announcement, more artists have been added to the line-up. 

Fans of any number of music genres will enjoy the five-day festival, which will feature rock, country, blues, soul, folk, and hip-hop performances on three stages. During the festival, guests will also find numerous late night acts around downtown Napa.

“The long-awaited downtown Napa renaissance has inspired us to bring an eclectic and broad group of world-class music and performers to our hometown. The Napa Valley has set such a high standard for wine, food and hospitality that we feel that the time is right to add a world-class music festival to the mix,” said the festival creators.

BottleRock Napa Valley is scheduled to take place May 8-12 at Napa Valley Expo. One-day passes, three-day passes, and four-day passes are offered for the event. Ticket prices range from $139 for a one-day pass to $599 for a four-day VIP pass. To purchase tickets and learn more about the festival, visit the BottleRock Napa Valley website. 

According to the article, an acre of vineyard land in Napa Valley may sell from $50,000 to $300,000, more than twice the selling price of land in nearby Sonoma County. The price depends greatly on the location of the land and the concept of terroir, the sum of the effects of Napa’s exceptional geography, geology, and climate on the production of wine.

The most expensive land can be found in St. Helena, Rutherford, Oakville, Pritchard Hill, Howell Mountain, Spring Mountain, and Stags Leap.

“Napa is the best of the best,” remarked the report’s author, American AgAppraisal senior appraiser Hal Forcey. “They are the highest ag values in California and the U.S.”

The past year marked an increase in the number of local buyers returning to the market. A typical year sees 15 to 20 transactions; however, in 2012, there were 40 sales of vineyard land. For many, a vineyard represents an enticing business opportunity, especially now that financing has become easier to obtain. According to the report, buyers “are actively buying before prices really start to escalate. People are frantic to find those properties.” 

The article noted that the high value of vineyards is set to continue in 2013 as the market demand for wine continues to grow.

We must say we’re not very surprised by the news that Napa Valley vineyards are the most expensive in California and the U.S. Napa has always been beloved for its fine wine, making the lands here particularly valuable and an attractive choice for investors.

According to the LA Times, California courts have seen their support from the state general fund slashed by 65% in the last five years. The article cites a study done by the Trial Court Presiding Judges Advisory Committee, which surveyed all presiding judges in California. Only ten counties in the state did not respond to the survey.

What the study found “represented the most in-depth look at how California courts are faring with less money.” No court or county is safe from the detrimental effects of the cuts. In San Bernardino, court closures mean that some residents are forced to drive 175 miles to the nearest court. In San Francisco, paying a traffic ticket can now require a four-hour wait.

The impact of the cuts has only been growing over the past five years. A California Bar Journal article reported in mid-2011 that San Francisco courts were forced to lay off hundreds of staff and reduce the number of civil trial departments from 15 to three, causing extended delays in civil case proceedings. Two litigation departments were also closed. San Francisco judge Katherine Feinstein stated that the cuts are “tremendously harmful to the public.”

Indeed, this is not a devastating problem merely in terms of abstract numbers and budgets: these cuts significantly impact the courts’ ability to serve the public. Though criminal cases are protected from excessive delays under the Sixth Amendment of the Constitution, the proceedings of litigation and civil cases have slowed tremendously in many instances. 

If the California court system is to effectively serve the public, state policymakers must return some of the lost funding to the trial courts. Unfortunately, California residents can expect delayed trials and a reduction of services until then.

A recent article published by Fox Business details five common mistakes that individuals make when filling out beneficiary forms. In order to ensure that your IRA is properly passed on to your heirs, avoid the following significant mistakes. 

Keep your forms up to date. One of the most common and potentially disastrous mistakes is forgetting to update your beneficiary forms. It’s important to note that a beneficiary form trumps your will, so it’s not enough to update the will; you must change the form to ensure the right beneficiary is named. Beneficiary forms should be reviewed and amended after every major life event, including marriage, divorce, births, and deaths.

Do not leave the beneficiary form blank. Many individuals, unaware of the importance of a beneficiary form, leave it blank or name their estate as the beneficiary. If you do not name a beneficiary, your IRA will be considered part of your estate and will go through probate. If you name your estate as the beneficiary, your heirs miss out on the opportunity to grow the IRA. Those who inherit a traditional IRA can choose to “liquidate and pay taxes on those assets within five years of the owner’s death, or ‘stretch’ their required minimum distributions over their lifetime,” reported the article. If the heir chooses the latter, he or she can delay income taxes and continue to grow the assets in the IRA.

Include financial controls to ensure responsibility. Once passed on to your beneficiary, the money can be spent however he or she wants. You can hope that your heir spends the money responsibly; however, unless you include financial controls, you will have no say in the matter. If you worry that your heir will squander their inheritance, you can set up a trust that stipulates how the money can be used and name the trust as the beneficiary of the IRA. 

Remember to designate a guardian. If you decide to leave your IRA to a minor, you must designate a guardian. In the event that you die without naming a guardian before the child reaches adulthood, the court will appoint a guardian for you. This guardian, who will manage the IRA until the child is legally able to do so, may not be the person you would have chosen. For example, if you were divorced, your ex-spouse would likely be chosen as a guardian; however, he or she may not be the person you would have picked.

Tell your family where to find the forms. Even if you perfectly execute every aspect of estate planning, it will be of no help to your family if they don’t know where to find the paperwork. To avoid this issue, keep a copy of your beneficiary form (and all other important estate planning documents) in a home safe, bank safety deposit box, or other protected location. Make sure that your beneficiaries know where the form and other important paperwork are.

Guests of the party can enjoy live music, the finest wines in Napa, and hors d’oeuvres from Auberge du Soleil. This event will benefit Arts Council Napa Valley and Napa Valley Museum, two organizations near and dear to the hearts of several of the firm’s attorneys.

The Napa Valley Collects exhibition, which features artists including Pablo Picasso, Joan Brown, Robert Arneson, Marc Chagall, Roy DeForest, David Ireland, Cy Twombly, William Wiley, and Peter Voulkos, will undoubtedly delight and inspire all who view it.

The Napa Valley Preview Party is scheduled to take place on April 4 from 6 p.m. to 8 p.m. Tickets to the event cost $100 per person. To purchase tickets and learn more about this exciting event, visit the Napa Chamber of Commerce website.

Assembly Bill 2149 adds Section 15657.8 to the existing Welfare and Institutions Code with regard to elderly and dependent adults. The Civil Discovery Act of Assembly Bill 2149 will prohibit “gag order” provisions in the settlement agreements of civil elder abuse cases. The act will apply to settlements relating to both physical and financial abuse made after January 1, 2013. Specifically, the act prohibits the following:

• The settlement agreement may not contain a provision barring any party in the case from cooperating with or contacting the county’s adult protective services agency, local law enforcement, long-term care ombudsman, the California Department of Aging, the Department of Justice, the State Department of Developmental Services, the State Department of Mental Health, the Licensing and Certification Division of the State Department of Public Health, any licensing or regulatory agency with jurisdiction over the defendant’s license or certification, any other governmental organization, a protection and advocacy agency, or the defendant’s current employer if the employment duties of the defendant comprise contact with elders, dependent adults, or children. This section of Assembly Bill 2149 provides that the party cooperating with or contacting any of the above organizations must have a “good faith belief” that the information given is “relevant to the concerns, duties, or obligations of that entity.” (http://www.leginfo.ca.gov/pub/11-12/bill/asm/ab_2101-2150/ab_2149_cfa_20120501_130400_asm_comm.html)
• The settlement agreement may not contain a provision barring any party from reporting a law violation or filing a complaint with any of the aforementioned agencies.
• The settlement agreement may not contain a provision that obligates any party to withdraw a reported violation or complaint filed to any of the aforementioned agencies.

Under Assembly Bill 2149, such provisions will be considered “void against public policy.”

In addition, the bill establishes The Elder Abuse and Dependent Adult Civil Protection Act within the existing Welfare and Institutions Code. The Elder Abuse and Dependent Adult Civil Protection Act acknowledges that the elderly are an at-risk, disadvantaged class and defines physical abuse of the elderly. The act additionally prescribes punishments for such physical abuse.

Assembly Bill 2149 adds to the statutory scheme already in place to protect against the abuse of elder and dependent adults. In prohibiting confidentiality provisions in settlement agreements, the bill will not only affect the litigation of civil elder abuse cases but may also open the door to increased criminal prosecution of defendants in civil cases, who might otherwise have been protected from investigation by the provisions. According to the author of the bill, the intention of Assembly Bill 2149 is to aid the investigation and prosecution of elder abuse, an underreported crime.

The new statute, signed by Governor Brown in September of this past year, replaces the Beverly-Killea Limited Liability Company Act (Beverly-Killea Act), which was enacted in 1994. California joins Idaho, Iowa, Nebraska, and Wyoming in adopting RULLCA, according to the Partnerships and Limited Liability Companies Committee of the Business Law Section of the State Bar of California.

A recent article published in The Marin Lawyer, the Marin County Bar Association’s newsletter, outlines RULLCA and the changes it brings. The important highlights are as follows: 

RULLCA gets its basis from the Uniform Limited Liability Company Act, which was promoted by the National Conference of Commissioners on Uniform State Laws (NCCUSL), and has many similarities to the Beverly-Killea Act; however, RULLCA contains significant differences from both. RULLCA differs from the Uniform Limited Liability Company Act in the areas of preserving dissenter’s rights and prohibiting professional LLCs. Additionally, RULLCA was designed to improve upon presumed failings of the Beverly-Killea Act. The new statute comprises numerous changes to the Beverly-Killea Act:

• In-depth provisions with regard to the disassociation of members from the LLC are included in RULLCA.
• Operating agreements may now be implied as well as written or oral.
• Detailed provisions concerning which statutory provisions the company’s operating agreement is permitted to modify are included. These provisions cover limitations on modifying fiduciary duties.
• RULLCA includes definitions and distinctions of authority and fiduciary duties of members and managers with regard to member-managed and manager-managed LLCs.
• States that enact RULLCA must give consideration to promoting “uniformity of the law,” per another provision.

RULLCA will take effect January 1, 2014. It is important to note that RULLCA will govern only those actions, transactions, and contracts entered into by the LLC or its members or managers on or after that date. The Beverly-Killea Act will remain governing actions, transactions, and contracts made before January 1, 2014. Though RULLCA can be seen as a step forward in unifying state laws and addressing the issues of the Beverly-Killea Act, its application could become a source of confusion and unexpected consequences. The Marin Lawyer article notes that LLCs whose operating agreements are governed by the Beverly-Killea Act could unintentionally subject themselves to RULLCA if they make modifications to the agreement after January 1, 2014.

It is for this reason that we recommend that business owners become familiar with the changes brought by RULLCA and update their agreements and contracts as necessary before RULLCA goes into effect.

Ms. Kaye’s story offers several valuable insights and demonstrates the importance of an in-depth, proactive approach to estate planning. To avoid unexpected problems, you and your attorney should address the following items:

Are both spouses’ names on shared assets?

You and your spouse should keep your beneficiary information updated on all of your assets, from retirement accounts to paper stock certificates. If certain assets are in one spouse’s name only, you may need to add the other spouse. This must be done before the death of a spouse.

Should you unwind your joint account?

Unwinding joint accounts can be particularly tricky. When a joint account is moved, the bank could place holds on withdrawals and deposits. In addition, your online banking could be affected. You should learn what may happen when your joint account is moved into one person’s name in order to avoid any unpleasant surprises in the future.

Should you roll over your spouse’s individual retirement account?

After the death of a spouse, the typical advice is to roll the spouse’s individual retirement account into your own; however, this may not be an advantageous financial move for you. If you are younger than 59 ½ years of age when your spouse passes, you may want to wait to roll over the IRA. Doing so before reaching 59 ½ years of age will result in a 10% penalty on early withdrawals. You should discuss the option of an inherited IRA, which keeps the deceased spouse’s money in their name until the surviving spouse reaches 59 ½, with your estate planning attorney.

Have you preserved your estate-tax exemption?

Following the American Taxpayer Relief Act of 2012 (“ATRA”), each spouse has a $5.25 million estate-tax exemption. When one spouse passes, the other spouse is permitted to use their exemption as well, totaling up to $10.5 million. In order to preserve this exemption, you must file a federal estate-tax return and elect to use your spouse’s unused exemption in the future.

Do you know your spouse’s passwords?

For many, this is often the most overlooked part of estate planning; however, it can result in the greatest hassle if it is not addressed in advance. Most Internet providers are hesitant to provide others with access to an online account, even if they are family or loved ones. This frequently leaves family members forced to “choose between violating the rules to break into an account or losing decades of email contacts, family photos and other information.” You and your spouse should create a list of usernames and passwords to important accounts, especially those with monetary value. You list may include online banking, email, and social media accounts, among others.

The Napa Valley Opera House will host La Traviata, presented by the Livermore Valley Opera. La Traviata has been beloved for more than 150 years because of its famous melodies. Audiences will surely enjoy the romantic opera, which will be staged with an orchestra and chorus.

The evening will feature a delightful performance by the Livermore Opera and a party for Napa and Livermore opera patrons. The mix and mingle party will feature appetizers, wine, dessert, and a few “interesting surprises,” according to the Napa Valley Opera House. Guests can also participate in a taste-off of the Napa and Livermore Cabernet Sauvignon.

Join fellow Napa and Livermore residents at this event! The performance of La Traviata will begin at 8 p.m. on March 13. The party will begin at 6 p.m. and last until 7:45 p.m. Admission to the opera costs $40-$60, and there is a $35 admission for the party. To purchase tickets and learn more about this event, visit the Napa Valley Opera House website.

The marathon will begin at 7 a.m. on Sunday, March 3. The 5K will start one hour later from Vintage High School. Runners who finish in first place can attend the Awards Ceremony at Vintage High School at 12:30 p.m. The top male and female runners in each age group will receive trophies in the form of Napa Valley wine! The Awards Ceremony will be followed by a raffle. The marathon course will close at 1 p.m.

Although registration for the marathon is closed, you can still attend to cheer on your family, friends, and neighbors as they cross the finish line. If you were lucky enough to get a spot in the marathon, you can pick up your shirt, bib number, and goody bag on the Friday or Saturday before the race at the Marriott.

For more information about the Napa Valley Marathon, visit the official website.