diff --git a/restless/preparers.py b/restless/preparers.py
index 5d9fed9..2f63bfe 100644
--- a/restless/preparers.py
+++ b/restless/preparers.py
@@ -2,8 +2,8 @@ class Preparer(object):
     """
     A plain preparation object which just passes through data.
 
-    It also is relevant as the protocol subclasses should implement to work with
-    Restless.
+    It also is relevant as the protocol subclasses should implement to
+    work with Restless.
     """
     def __init__(self):
         super(Preparer, self).__init__()
@@ -41,8 +41,8 @@ def __init__(self, fields):
 
     def prepare(self, data):
         """
-        Handles transforming the provided data into the fielded data that should
-        be exposed to the end user.
+        Handles transforming the provided data into the fielded data that
+        should be exposed to the end user.
 
         Uses the ``lookup_data`` method to traverse dotted paths.
 
@@ -51,6 +51,7 @@ def prepare(self, data):
         result = {}
 
         if not self.fields:
+
             # No fields specified. Serialize everything.
             return data
 
@@ -61,15 +62,16 @@ def prepare(self, data):
 
     def lookup_data(self, lookup, data):
         """
-        Given a lookup string, attempts to descend through nested data looking for
-        the value.
+        Given a lookup string, attempts to descend through nested data looking
+        for the value.
 
-        Can work with either dictionary-alikes or objects (or any combination of
-        those).
+        Can work with either dictionary-alikes or objects (or any combination
+        of those).
 
         Lookups should be a string. If it is a dotted path, it will be split on
-        ``.`` & it will traverse through to find the final value. If not, it will
-        simply attempt to find either a key or attribute of that name & return it.
+        ``.`` & it will traverse through to find the final value. If not, it
+        will simply attempt to find either a key or attribute of that name &
+        return it.
 
         Example::
 
@@ -90,7 +92,10 @@ def lookup_data(self, lookup, data):
             'hello'
             >>> lookup_data('person.name', data)
             'daniel'
-
+            >>> lookup_data('greeting.se', data)
+            None
+            >>> lookup_data('idontexist', data)
+            None
         """
         value = data
         parts = lookup.split('.')
@@ -102,13 +107,15 @@ def lookup_data(self, lookup, data):
         remaining_lookup = '.'.join(parts[1:])
 
         if hasattr(data, 'keys') and hasattr(data, '__getitem__'):
+
             # Dictionary enough for us.
-            value = data[part]
+            value = data.get(part, None)
         else:
+
             # Assume it's an object.
-            value = getattr(data, part)
+            value = getattr(data, part, None)
 
-        if not remaining_lookup:
+        if not remaining_lookup or not value:
             return value
 
         # There's more to lookup, so dive in recursively.
diff --git a/tests/test_preparers.py b/tests/test_preparers.py
index 560be24..e5e36fd 100644
--- a/tests/test_preparers.py
+++ b/tests/test_preparers.py
@@ -32,7 +32,7 @@ def setUp(self):
                     awesome=True,
                     depth=3
                 ),
-            },
+            }
         }
 
     def test_dict_simple(self):
@@ -51,18 +51,21 @@ def test_obj_nested(self):
         self.assertEqual(self.preparer.lookup_data('moof.buried.id', self.obj_data), 7)
         self.assertEqual(self.preparer.lookup_data('moof.buried.data.yes', self.obj_data), 'no')
 
+    def test_dict_nullable_fk(self):
+        self.assertEqual(self.preparer.lookup_data('more.this_does_not_exist', self.dict_data), None)
+
+    def test_obj_nullable_fk(self):
+        self.assertEqual(self.preparer.lookup_data('moof.this_does_not_exist', self.obj_data), None)
+
     def test_dict_miss(self):
-        with self.assertRaises(KeyError):
-            self.preparer.lookup_data('another', self.dict_data)
+        self.assertEqual(self.preparer.lookup_data('another', self.dict_data), None)
 
     def test_obj_miss(self):
-        with self.assertRaises(AttributeError):
-            self.preparer.lookup_data('whee', self.obj_data)
+        self.assertEqual(self.preparer.lookup_data('whee', self.obj_data), None)
 
     def test_empty_lookup(self):
         # We could possibly get here in the recursion.
         self.assertEqual(self.preparer.lookup_data('', 'Last value'), 'Last value')
 
     def test_complex_miss(self):
-        with self.assertRaises(AttributeError):
-            self.preparer.lookup_data('more.nested.nope', self.dict_data)
+        self.assertEquals(self.preparer.lookup_data('more.nested.nope', self.dict_data), None)