Asian legacy planning rises as preservation fears persist

Fully documented plans more than doubled to 22% from 10% in 2025.

Families across Asia are increasingly planning for wealth transfer, but concerns about whether the next generation is ready to manage inherited assets remain a key challenge.

According to new research by Sun Life Asia, 70% of respondents worry their wealth may not be preserved beyond the next generation, whilst only 20% feel fully prepared to pass on their legacy.

The study also found that legacy planning is becoming more structured. The share of people with a fully documented and communicated legacy plan more than doubled from 10% in 2025 to 22% in 2026. 

Those with no plan fell from 31% to 15%.

However, confidence has changed little, with 20% saying they feel fully prepared compared with 19% a year earlier.

David Broom, chief client and distribution officer at Sun Life Asia, said a legacy plan needs to cover more than the transfer of wealth and should help families establish how assets should be used and prepare the next generation for the responsibility.

The research found that 74% of respondents intend to pass on values, knowledge or life lessons alongside financial assets. Skills and education (33%), family values (32%) and life lessons (31%) were amongst the most common forms of legacy people wanted to leave.

Education was also a major financial priority, with 48% saying they wanted their wealth to provide opportunities through education. 

Amongst those planning to leave financial assets, 45% planned to fund education, compared with 50% who wanted to provide financial support to family members during their lifetime and 52% who wanted to cover essential family needs.

Six in 10 respondents (61%) said they wanted their wealth to create long-term opportunities for their families, whilst 52% wanted it to cover essentials such as housing and healthcare.

Professional advice is also becoming more common. 

Nearly half (46%) of respondents said they had sought professional legacy planning advice, up from 37% in 2025. 

Amongst those who had sought advice, 79% felt financially prepared, compared with 44% of those who had not sought advice but wanted to.

Younger generations reported higher levels of concern about wealth preservation. Some 76% of Gen Z and Millennials worry their wealth will not last, compared with 66% of Gen X and 59% of Baby Boomers. 

At the same time, 65% of Gen Z and 67% of Millennials believe their wealth will have a lasting, multi-generational impact, compared with 51% of Baby Boomers.

Beneficiary readiness was the biggest concern amongst respondents worried about preserving wealth, cited by 52%, followed by market volatility at 49% and conflict over assets at 44%. 

A lack of financial literacy in the next generation was cited by 27%, whilst 25% were concerned that beneficiaries would lack confidence in managing inherited wealth.

Financial advisors are also playing a larger role in family discussions. Four in 10 respondents said communication with the next generation had taken place, at least partly, through a financial advisor, up from 15% in 2025.

For high-net-worth individuals, the concerns are more focused on managing wealth complexity. 

Poor investment decisions were cited as a risk by 37%, compared with 24% of the general population, whilst 29% pointed to tax or legal complexity, compared with 18%.

Amongst high-net-worth respondents concerned about wealth preservation, 40% cited confidence in the advisors or institutions managing their wealth, against 25% of the wider group.

Sujoy Ghosh, CEO of Sun Life Private Wealth, said high-net-worth families need advice covering investments, wealth structures and the transfer of assets across generations and jurisdictions.

More than eight in 10 (83%) high-net-worth respondents said advisors should play a role in legacy planning, whilst 63% said advisors should take the lead.