Reply by Tennessee

If it is a stained finish, it will be lead free. If it is paint, it certainly may have lead, and be risky.
But if a lacquer or varnish finish it will almost always be a one piece spray type finish with color put in for one coat production work. It may even be a water base, being a baby crib and all.
Start planing, I don’t see where it will damage. Lot better edge and more level than sanding it off, and you can vacuum up most of what comes off from your planer.

-- Paul, Tennessee, http://www.tsunamiguitars.com