Carol P. Schaner

Partner

  • Office Contact Info
  • Biography

    Carol Schaner is a partner in the Orange County office. Ms. Schaner is a Certified Tax Specialist from the California Board of Legal Specialization, as well as a Certified Public Accountant. Her practice focuses on taxation (planning and controversy), business planning, charitable giving, representation of nonprofit tax-exempt organizations, and estate planning.

    Ms. Schaner has been appointed to numerous leadership positions in her profession, including serving as a member of the California Board of Legal Specialization (2005-2008), the Chair of the California Board of Legal Specialization Taxation Law Advisory Commission (2002-2003), a member of the California Board of Legal Specialization (2002-2003), and a member of the Taxation Law Advisory Commission (2000-2003).

    Ms. Schaner has served as an adjunct faculty member at Chapman University Dale E. Fowler School of Law teaching Federal Estate and Gift Taxation, and Tax-Exempt Organizations; The Academy of Multidisciplinary Practice, Inc. at Michigan State University; and at The Heritage Institute.

    Ms. Schaner has an extensive record of published articles, journals, research letters, and regulatory advisories, as well as being a frequent speaker at many local and national legal, business, and community service organizations.

    Admissions

    California

    Memberships

    • State Bar of California
    • American Bar Association (Sections of Taxation and Real Property, Probate and Trust Law)
    • Orange County Bar Association (Sections of Taxation and Real Property, Probate and Trust Law)
    • Fellow of the Esperti Peterson Institute

    Community Involvement

    Partnership for Philanthropic Planning (Orange County Chapter)

  • Practice Areas
  • Representative Experience

    Representative Experience

    Examples of Ms. Schaner’s experience include the following:

    • Taxation (federal, state and international)
      Legal research and planning regarding federal, state and international tax issues including corporate deductions, S corporation issues, taxation of distributions and recapitalizations, penalty taxes, planning for dividends and other non-liquidating distributions; tax planning for stock redemptions, complete liquidations, and taxable dispositions of stock and assets; research and transactional work regarding corporate divisions and reorganizations; tax planning and research regarding affiliated corporations and consolidated return issues; corporate tax attribute planning; review and analysis of partnership tax issues and partner/partnership transactions; and formation, dissolution, and merger of corporations, limited liability corporations, partnerships, limited partnerships, and treaty analysis; backup withholding issues, income sourcing, and business management trusts.
       
    • Tax Controversy 
      Representation of clients of all types before the Internal Revenue Service (all levels), U.S. Tax Court, California Attorney General, California Franchise Tax Board, California Employment Development Department, California Unemployment Insurance Appeals Board, California State Board of Equalization, and multiple county property tax appellate panels in connection with controversy cases.  Tax controversy cases include corporate tax; gift, estate and generation-skipping transfer tax; employment tax; individual income tax; unrelated business income tax; revocation of tax-exempt status; lease v. sales characterizations; worker status disputes involving independent contractor v. employee classifications; excise tax; trust fund recovery penalty; and other penalty cases; sales and use tax; and property tax.  Ms. Schaner’s experience in the controversy arena also includes the negotiation of tax lien releases, discharges, and subordinations, offers in compromise, and collection defense matters.
    • Estate Planning
      Planning for estates of all sizes including preparation of revocable trusts, irrevocable life insurance trusts, dynasty trusts, minors' trusts, family limited partnerships, family limited liability corporations (multiple jurisdictions), qualified personal residence trusts, intentionally defective grantor trusts, GRAT's and rolling GRATs, other irrevocable trusts, charitable lead trusts, charitable remainder trusts, private foundations, supporting organizations, private operating foundations, and other estate planning vehicles; domestic asset protection, probate representation; trust administration; succession planning and preparation of transactional documentation related to the succession planning (corporate restructurings, coordination with regulatory agencies such as the California Gaming Commission, et al); and preparation of other estate planning related documents including wills, durable power of attorney forms, and health care directives.  
    • Exempt Organizations
      Formation and general representation of public charities, supporting organizations, private foundations, corporate foundations, private operating foundations, trade associations, Indian tribes, VEBA’s, title holding corporations, social clubs, PACs and other nonprofit tax-exempt organizations, including representation before the federal and state regulatory authorities; establishment and drafting of donor advised funds and charitable gift annuities for public charities; preparation of private letter ruling requests regarding the law of tax-exempt organizations; merger and dissolution of nonprofit tax-exempt organizations; preparation of federal and California applications for recognition of exemption; successful defense of several large trade associations upon proposed revocation of exemption by Internal Revenue Service and Franchise Tax Board; successful defense of several private foundations upon revocation of exemption by the regulatory authorities; analysis of unrelated business income and potential restructuring issues for exempt organizations; exempt organization joint ventures and partnerships; disclosure matters; trustee and director counseling; and review of annual returns.
  • Publications & Presentations

    Presentations 

    • 2015 Year-End Charitable Planning,  Orange County Lawyers and Legal Professionals, ProVisors® (November 2015)
    • Family Philanthropy.  Advisors in Philanthropy, Los Angeles Chapter, Los Angeles, California (March 2015)
    • 2014 Year-End Charitable Planning Strategies.  First American Trust, FSB, Study Groups (8), Santa Ana, California (October 2014)
    • Affluent Clients:  Charitable Planning.  The Laureate Program, San Diego, California (November 2013)
    • Private Foundations, Charitable Remainder Trusts and Charitable Lead Trusts.  The Laureate Program, San Diego, California (August 2012)
    • Charitable Update.  The Gathering, a program of the Laureate Center for Wealth Advisors, San Diego, CA (2010-2011)
    • 2011 Estate Planning Fundamentals.  A presentation developed for the executives and employees of a major software developer in Southern California (January 2011) 
    • Estate Planning aka Why Planning Makes Sense Irrespective of the Value of Your Estate, 401k Plan or Checking Account. A presentation developed for software engineers and employees of a prominent software engineering firm in Southern California (January 2011)
    • Counseling Private Foundations.  The Laureate Program, La Jolla, CA (August 2010)
    • Charitable Bootcamp.  e.planners® Educational Alliance, Inc. Conference, Huntington Beach, CA (June 2010) 
    • 2010 Charitable Year in Review.  The Gathering, La Jolla, CA (February 2010)
    • Year-End Charitable Planning, Orange County Bar Association Tax Law Section Meeting, Santa Ana, CA (October 2009)
    • Spidell’s Estate and Trust Seminar, Spidell Tax Seminars, six city tour - State of California (September 2009)
    • Introduction to Private Foundations, The Laureate Program, San Diego, CA (August 2008)
    • Charitable Giving Update: Year in Review, Inland Empire Planned Giving Round Table, University of Redlands, Redlands, CA (November 2007)
    • Charitable Giving Update: Year in Review, Planned Giving Round Table of Orange County, Santa Ana, CA (November 2007)
    • Protecting, Preserving and Keeping Your Jewels (i.e., Jewelry, Cash, Stocks, Bonds, Real Estate, etc.), Morgan Stanley, Montage Hotel, Laguna Beach, CA (October, 2007)
    • Charitable Planning, Davis & Associates, P.C. Estate Planning Symposium, Denver, CO (7 hours) (October 2007)
    • Private Foundation Fundamentals, Southern California Institute Laureate in Wealth Strategies Program, La Jolla, CA (July 2007)
    • Advanced Estate Planning, Prudential Financial, Irvine, CA (May 2007)
    • The Pension Protection Act and Other Charitable Changes, The Gathering, a Program of the Southern California Institute, San Diego, CA (February 2007)
    • Charitable Year in Review, Orange County Planned Giving Round Table, Newport Beach, CA (November 2006)
    • Pension Protection Act (H.R. 4), Southern California Institute, La Jolla, CA (August 2006)
    • Charitable Year in Review, Orange County Planned Giving Round Table, Newport Beach, CA (November 2005)
    • The Six Levels of Estate Planning, Prudential Financial Continuing Education Program for CPAs, Irvine, CA (September 2005)
    • Specific Property Gifts, 2005 Practical Planned Giving Conference, Crescendo Interactive, Inc., San Diego, CA (September 2005)
    • How to Integrate Charitable Planning into Your Client’s Estate & Wealth Strategies Plan, Sharp HealthCare Foundation’s Fourth Annual Family of Advisor’s Symposium, San Diego, CA (June 2005)
    • Charitable Giving Update: What’s New, What’s Hot and What May Soon Be on the IRS Hit List, Northern Trust, Southern California cities (May 2005)
    • Charity Changes and Deference, The Southern California Institute, San Diego, CA (January 2005)
    • Supporting Organizations and Other Charitable Options, California Community Foundation Philanthropic Series Seminar, Beverly Hills, CA (November 2004)
    • Private Foundations, e.Planners Educational Alliance, Inc., Oakland, CA (November 2004)
    • Charitable Giving Update, Planned Giving Round Table of Orange County, Newport Beach, CA (November 2004)
    • Planning With Private Foundations and Supporting Organizations, The Heritage Institute, Las Vegas, NV (October 2004)
    • Everything That You Always Wanted to Know About Charitable Lead Trusts, 2004 National Conference on Planned Giving, Dallas-Ft. Worth, TX (October 2004)
    • Real Estate Exit Strategies – The Charitable Strategies, The Private Consulting Group, Newport Beach, CA (October 2004)
    • Charitable Giving Update: What’s New, What’s Hot and What May Soon be on the IRS Hit List, Association of Fundraising Professionals, Costa Mesa, CA (August 2004)
    • Charitable Lead Trusts and Charitable Remainder Trusts, Advanced Studies for Estate and Wealth Planning, Esperti Peterson Institute, Hilton Head, SC (June 2004)
    • Ins and Outs of Charitable Lead Trusts, 2004 Conference on Philanthropy, National Association of Philanthropic Planners and National Association of Family Wealth Counselors, Chicago, IL (April 2004)
    • Charitable Organizations: 2003 Year in Review, Estate Planning Day, University of Redlands, Redlands, CA (November 2003)
    • Tax-Exempt Organizations: 2003 Year in Review, Orange County Planned Giving Roundtable, Newport Beach, CA (November 2003)
    • Creating a Family Foundation From A to Z, National Network of Estate Planning Attorneys, Las Vegas Collegium, Las Vegas, NV (October, 2003)
    • Disinherit the IRS, UBS Financial Services, Inc., Costa Mesa, CA (September, 2003)
    • Zeroing the Estate Tax, Teton Institute, Jackson Hole, WY, September (2003)
    • Everything You Always Wanted to Know About Supporting Organizations, National Association of Family Wealth Counselors (July 2003)
    • Real Estate Gifts: Boon or Bane?, Boys & Girls Club of Santa Ana Foundation, Balboa Bay Club, Newport Beach, CA (June 2003)
    • Everything You Always Wanted to Know About Supporting Organizations, Orange County Community Foundation Advisors Academy, Orange County, CA (May 2003)
    • Private Foundation and Supporting Organization Basics, National Network of Estate Planning Attorneys, Orlando Collegium, Orlando, FL (May 2003)
    • Endowment Building, New Hope Center For Children, Orlando, FL (May 2003)
    • Planned Giving Made Simple, Ronald McDonald House Charities of Central Florida, Inc., Orlando, FL (May 2003)
    • Charitable Lead Trusts, Esperti Peterson Institute, Orlando, FL (16-hour program) (May 2003)
    • Planned Giving, The Academy of Multidisciplinary Practice at Michigan State University, Lexington, KY (12-hour program designed for Hilliard Lyons, a regional brokerage firm) (April 2003)
    • Charitable Lead Trusts, Advanced Studies for Estate and Wealth Planning, a program of Esperti Peterson Institute, Hilton Head, SC (March 2003)
    • Estate Planning for Affluent Individuals in Uncertain Times, Arthritis Foundation Southern California Chapter, Costa Mesa, CA (October 2002)
    • Charitable Gift Annuities and Donor Advised Funds, Esperti Peterson Institute Advanced Studies for Estate and Wealth Planning Conference Call, (October 2002)
    • California Nonprofits: Tax and Business Answers, National Business Institute, Anaheim, CA (8-Hour Specialty Program) (April 16, 2002)
    • Charitable Lead Trusts, Advanced Studies for Estate and Wealth Planning, a program of the Esperti Peterson Institute, Hilton Head, SC (March 2002)
    • Advanced Charitable Remainder Trust Planning, Advanced Studies for Estate and Wealth Planning, a program of the Esperti Peterson Institute, Hilton Head, SC (March 2002)
    • Charitable Lead Trusts, Esperti Peterson Institute and National Network of Estate Planning Attorneys, Minneapolis Collegium (16-Hour Specialty Program) (October 2001)
    • Disposition of Business Interests Through Charitable Remainder Trusts
      Esperti Peterson Institute, Advanced Studies Collegium, Las Vegas, NV (October 2001) 
    • Private Foundations and Supporting Organizations, Esperti Peterson Institute, Advanced Studies for Estate and Wealth Planning Policies and Procedures, Las Vegas, NV (September 2001)
    • Tax and Legal Issues, Trustee Leadership Seminar sponsored by the Association of Small Foundations, San Diego Grantmakers, and Southern California Association for Philanthropy (July 2001)
    • Supporting Organizations, National Network of Estate Planning Attorneys, San Diego Collegium (May 2001)
    • Foundations, Supporting Organizations, and Public Charities, The Estate and Wealth Strategies Institute at Michigan State University (April 2001)
    • Charitable Lead Trusts, Advanced Studies for Estate and Wealth Planning, a program of the Esperti Peterson Institute, Hilton Head, SC (March 2001)
    • Charitable Remainder Trusts, Advanced Studies for Estate and Wealth Planning, a program of the Esperti Peterson Institute, Hilton Head, SC (March 2001)
    • Supporting Organizations and Use of Such Organizations in Advanced Planning Cases, Advanced Studies for Estate and Wealth Planning, a program of Esperti Peterson Institute (February 2001)
    • Counseling Private Foundations and Supporting Organizations, Planned Giving Council of Ventura County (November 2000)
    • Grantor-Grantee Relationships, Association of Small Foundations First National Conference, Chicago, IL (October 2000)
    • Total Return Trusts, National Network of Estate Planning Attorneys, Orlando Collegium (October 2000)
    • Charitable Lead Trusts, Esperti Peterson Institute and National Network of Estate Planning Attorneys, Orlando Collegium (16-Hour Specialty Program) (October 2000)
    • Counseling Family Foundations, The Esperti Peterson Institute, Advanced Studies For Estate and Wealth Planning Policies and Procedures, Toronto Conference (September 2000)
    • Advising California Nonprofit Organizations, Orange County Bar Association Business & Corporate Section Meeting (August 23, 2000)
    • Spotting Advanced Planning Issues, National Network of Estate Planning Attorneys, Reno Collegium (May 2000)
    • Charitable Lead Trusts, Esperti Peterson Institute Mid-Tier Conference, Hilton Head, SC (March 25, 2000)
    • Charitable Remainder Trusts, Esperti Peterson Institute Mid-Tier Conference, Hilton Head, SC (March 24, 2000)
    • Counseling Family Foundations; Fundamentals of Federal Gift, Estate and Generation Skipping Transfer Tax Research, Esperti Peterson Institute Mid-Tier Conference, Dallas, TX (October 1999)
    • Family Foundation Basics, National Network of Estate Planning Attorneys, Nashville Collegium (May 1999)
    • Selected Legal Topics: Self-Dealing & Trustee Responsibility, Association of Small Foundations Conference, Dallas, TX (February 1999)
    • Lessons from the Estate Plans of the Rich and Famous, Cal State Fullerton (January 1999)
    • IRS Restructuring and Reform Act of 1998, Estate, Gift and GST Provisions, Esperti Peterson Institute Fellowship Program (November 1998)
    • IRS Restructuring and Reform Act of 1998, Chapman University School of Law, Second Annual Tax Law Institute (November 1998)
    • Fiduciary Duty When Choosing an Investment Policy, Planned Giving Roundtable of Orange County (September 1998)
    • The Truth About Estate Planning, National Network of Estate Planning Attorneys, San Francisco (16-hour Specialty Program) (August 21-22, 1998)
    • Federal Tax Research, National Network of Estate Planning Attorneys, Tucson Collegium (May 1998)
    • Spotlight On Current Developments For Exempt Organizations, California CPA Education Foundation, 1998 Not-for-Profit Organizations Conference (May 1998)
    • Counseling Family Foundations and Tax-Exempt Charitable Organizations, National Network of Estate Planning Attorneys, Boston Collegium (October 1997) (16-Hour Specialty Program)
    • Fundamentals of Asset Protection and Taxes for Executives, Managers and Entrepreneurs, University of California, Irvine, Executive MBA Program (August 1997)
    • Counseling Family Foundations and Related Current Events, California Society of CPA's Nonprofit Organizations Committee (July 1997)
    • Business Succession Planning, IDS American Express Conference for Advanced Planners, San Rafael, California (January 1997)

    Publications

    • The Move Toward Modern Estate Planning, Spidell’s California Tax Letter (September 2009)
    • Anatomy of a Foundation Compensation Controversy, Family Foundation Advisor, Civic Research Institute Vol. 5/No. 5 (July/August 2006)
    • The 20 Most Commonly Asked Questions About Charitable Lead Trusts, Journal of Practical Estate Planning, CCH Incorporated (October- November 2004)
    • Giving: Philanthropy for Everyone, Esperti, Peterson & Schaner, Quantum Press, LLC (2003)
    • Guidelines for New Trustees and Directors of a Foundation, Association of Small Foundations Newsletter (Fall 2001)
    • The 25 Most Commonly Asked Questions About Family Foundations and Supporting Organizations, Journal of Practical Estate Planning, CCH Incorporated (February-March 2001)
    • Supporting Organization: New Reigning Charitable Entity, Conspectus Current®, pp. 76-80 (Spring 1999)
    • LLC's and Accrual Accounting, Spidell's California Taxletter (May 1, 1999)
    • State Regulation of Charitable Solicitation, Conspectus Current®, pp. 44-47 (Fall 1998)
    • Guide to Dissolving California Corporations, Spidell Publishing, Inc. (1998)
    • Charitable Giving to a Private Foundation, a Supporting Organization, or a Donor-Advised Fund, Conspectus Current®, pp. 82-86 (Summer 1998)

       

  • Education

    Education

    J.D., University of San Diego School of Law, 1982

    LL.M., cum laude, Taxation, University of San Diego School of Law, 1994

    B.S., Cornell University, 1977

    Honors

    The Best Lawyers in America© distinction in Litigation and Controversy - Tax (2016-2020)

    Top Rated Lawyer-AV® Preeminent™,
    Martindale-Hubbell

    Super Lawyers® distinction in the fields of Tax, Non-Profit, and Estate Planning & Probate (2004, 2006, 2008-2014)