Most business owners have thought about succession. Very few have documented it. The plan lives in an intention: the eldest will take over, or the partners will buy each other out, or the family will sell.
Intentions are not instruments. When the moment arrives, the constitution says nothing about death. There is no valuation basis. The surviving shareholders have no funding to buy the departing stake and no right to compel a sale. The next generation has no defined role and no agreed timetable.
So the family and the surviving shareholders negotiate at the worst possible moment, with grief or illness in the room, and often end up as unwilling business partners with no shared view of where the company should go.
Corporate Succession Planning
Succession planning at the company level — deciding who takes ownership, who takes control, on what terms and at what price, then building that into the instruments that actually bind: the constitution, the shareholders agreement, buy-sell and option arrangements, director and management succession, and the group structure that holds it all.
Your Vision, Backed by the Right Legal Support
You build the business. We help you protect it.
Imagine a documented plan that operates without a negotiation. Ownership passes on a defined route at a calculable price. Control passes to named people on an agreed timetable. The surviving shareholders have the right and the funding to buy out a departing stake. The family knows what it will receive and the business keeps trading.
Who this service is for
This Is For You If…
Business owners who have not documented what happens to their shares
Companies with two or more shareholders and no death or exit provisions
Family businesses planning a transition to the next generation
Founders wanting control and ownership to pass to different people
Groups where a single individual holds the relationships, licences or signatures
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What we will do for you
This is what we will do for you
Map the current ownership, control and dependency position across the group
Work through the succession objectives — who owns, who runs, on what timetable
Build the plan into the constitution, shareholders agreement and option documentation
Address director and management succession, authority and key person dependency
Coordinate with your accountant, tax adviser and financial adviser on funding and tax
What’s Included
What’s Included in our service for you
Ownership, control and key person dependency mapping
Succession planning session with the owners to fix objectives
Constitution and shareholders agreement amended to carry the plan
Buy-sell, option or compulsory transfer documentation
Director and management succession framework with authority provisions
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Why Choose Legal That Works?
Why Choose Us To Assist You?
Digital-first
No office visit required—review and sign online
Transparent fees
Fixed price, no billing surprises
Deep experience
Various contracts across industries
Accessible
Our client portal keeps you informed
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We've Helped
You Need To Act Now
Important: Limited Slots
Every instrument in a succession plan requires the owner's signature. The window to put one in place is the period when they are willing and able to give it.
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Nothing to Lose. Everything to Protect.
No Surprises. No Guesswork. Just Legal That Works.
Before anything starts, we speak with you to understand your business and make sure the service is the right fit. If it is not, we will say so upfront. No pressure. No wasted time. We only take on matters we are confident we can deliver with quality. That is why business owners trust us to get it right.
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Frequently Asked Questions
What is Legal That Works?
Legal That Works is a business and organisation oriented legal service designed by Messrs Akmal Saufi & Co (the firm that has brought the widely known legal consumer services brand ASCOLAW). We specifically help business owners and organisation leadership to navigate Malaysia’s legal terrain to achieve their commercial goal.
What if I’m not sure what legal service I need?
No problem. Most business owners aren’t legal experts! Just reach out. Our team will guide you to the right service or help you understand your options—without jargon or upselling.
Is this the same as writing a will?
No, and one does not substitute for the other. A will directs what happens to a person's estate. It cannot override a constitution or a shareholders agreement, and a will that leaves shares to someone the constitution will not allow to be registered creates a problem rather than solving one. Both need to work together.
We are not family — does succession planning apply to us?
Very much so. Unrelated co-shareholders often have the greater exposure, because on a death they can find themselves in business with the deceased's family, who may have no interest in the company and no ability to contribute to it.
How do the survivors afford to buy out a departing shareholder?
That is the funding question, and it is usually solved through insurance-backed arrangements or staged payment terms. We document the legal mechanism and work alongside your financial adviser, who handles the funding product itself.
Can ownership and management pass to different people?
Yes, and it is often the right answer — for instance where one child runs the business and others inherit value but not control. Separating economic rights from voting control is a normal part of the planning.
What about the tax and stamp duty position?
Transfers of shares carry stamp duty and there may be other consequences depending on structure and timing. We flag these and work with your tax adviser rather than replacing them.
Who will be helping me?
All our services are delivered by our licensed lawyers under the Malaysian Bar with proven experience across industries. You’ll work with a real legal team, not chatbots or generic customer support.
