About Us
Lanning & Peterson, LLP, has specialized in family wealth preservation for over 30 years. Our attorneys meet one-on-one with clients to ensure that family assets will be protected from estate taxes, the court process, creditors, former spouses, and the pitfalls businesses formed without succession plans. ESTATE PLANNING Every individual and couple needs an Estate Plan, regardless of the size of their estate. Estate Planning is the general term that applies to protecting a family’s wealth from estate taxes and probate court. A properly drafted Estate Plan can keep families out of court, as is commonly required in the event of ...
Attorneys
Michael K. Lanning, Founding Partner CA SBN 028367 Born in Indio, California, Mike grew up in Riverside, moving to Pacific Palisades in 1952 where he resides today. He attended UCLA for his Bachelor of Arts and Juris Doctor degrees. He went immediately into the practice of law, gaining extensive experience in real estate transactions, income taxation of corporations and individuals, and gift and estate taxation. Mike was one of the first lawyers in Southern California to specialize in probate avoidance and estate tax reduction through Living Trusts and related estate tax saving devices. Mike has prepared and implemented over 4,000 ...
Practice Areas
Trust Centered Estate Planning Estate Tax Planning Probate Trust Administration Business Planning Premarital and Postmarital Agreements Trust Centered Estate Plans A Trust Centered Estate Plan includes the following: A Revocable Living Trust contains detailed instructions for distribution of assets in the manner the client designates. It may be amended or revoked at any time, for any reason. A Trust is a document created and controlled by the client; it owns assets while still allowing the client to retain complete control. It does not limit any power and authority over the assets, require a separate tax return, or offer ...
Business Entities
Our attorneys’ expertise extends to assessing the need for and creation of various business entities, including Limited Liability Companies, Corporations, Limited Partnerships, and Buy/Sell Agreements. The need for such entities can arise from anything from creditor protection to estate tax reduction. Each family’s needs are unique and we use these tools to plan accordingly.
Estate Tax Planning
For individuals and couples with larger estates, a Trust Centered Estate Plan may not be enough to plan against all avoidable estate taxes. Various other types of Trusts can be used so that family members pay as little tax as possible when the assets are passed onto them. In doing Estate Plans for taxation purposes, we take into account estate taxes, gift taxes, generation-skipping taxes, property taxes, income taxes, and capital gain taxes. There are several strategies available to us, any combination of which we design to meet each individual’s needs. Additionally, all strategies described in this ...
Trust Centered Estate Planning
A Trust Centered Estate Plan includes the following: A Revocable Living Trust contains detailed instructions for distribution of assets in the manner the client designates. It may be amended or revoked at any time, for any reason. A Trust is a document created and controlled by the client; it owns assets while still allowing the client to retain complete control. It does not limit any power and authority over the assets, require a separate tax return, or offer any creditor protection. Assets owned by a Trust are protected from Probate. A Pour-Over Will appointments a legal guardian of a ...
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