Manila, Philippines (December 2025) – A new survey from Sun Life Asia reveals that while
financial security is regarded as a cornerstone for legacy planning across the Philippines, as many as 81% fear their wealth will not last beyond their children’s generation, underscoring an urgent need for structured planning and financial literacy in this space.

The research, titled Passing the Torch: Building Lasting Legacies in Asia, surveyed over 3,000 respondents across six Asian markets. It highlights attitudes, behaviors, and aspirations that shape legacy planning practices among families and individuals across Asia today comprehensively.

With Asia expecting the largest intergenerational wealth transfer in the next decade, families must prioritize effective legacy planning now. Legacy planning involves not only preserving financial assets but also safeguarding values, traditions, and opportunities for future generations to inherit.

Building a legacy of security and opportunity

More than seven in 10 Filipino respondents (77%) say having protection in place to ensure their family’s financial security is the most important factor in legacy planning. This is followed by educating future generations about financial responsibilities (53%) and building enough wealth to pass down to the next generation (52%). Most Filipino respondents prefer the wealth they leave behind to ensure security for the family, with 69% preferring that future generations will use inherited assets to support essential family needs, such as housing and healthcare. A significant number of Filipinos would also like their legacy tobe invested in long-term wealth creation for themselves and for generations to come (63%), followed by funding education from school to college or vocational training (62%).

Concerns around legacy not lasting beyond the next generation

Four in five respondents (81%) fear their wealth may not last beyond their children’s generation, highlighting urgent financial planning needs. More than half (64%) worry their heirs lack financial skills to manage inherited assets, stressing better literacy and family dialogue. Only 45% of respondents feel confident their children will respect their wealth transfer wishes, preserve assets, and continue growth.

Concerns are most pronounced among the affluent, as they described themselves as “very
concerned” about wealth preservation, highlighting that greater wealth often brings greater
responsibility and considerably higher stakes.

Legacy is not just about money – it’s about meaning

Moreover, Asian families define their legacy in multidimensional terms, reflecting both financial and personal aspirations across generations today. When asked about the legacy they want to leave, 37% cite passing wealth, followed by personal influence and family traditions.

Worries extend beyond financial matters to the preservation of family values — only 43% of Filipino respondents believe their children will uphold family traditions. Diverging priorities among younger generations (70%), limited engagement (39%), misinterpretation of values
(38%), and weaker intergenerational bonds (31%) are cited as major factors.

Many underprepared despite growing awareness

However, even as awareness of legacy planning increases across the Philippines, many families remain unprepared for passing wealth responsibly today. Only 18% of respondents feel fully prepared with legacy arrangements if they were to pass away at this moment. Meanwhile, just 6% have completed and communicated their legacy plans, while 53% have partial plans, and 25% have nothing.

Many legacy discussions lack structure. Almost half (42%) of legacy planning conversations are currently informal or casual, but this does not seem to be the preferred option, with just 19% of respondents stating this as the best setting.

Financial literacy is a valuable family legacy

Families are turning financial education into another form of inheritance by passing on
knowledge and experience of money management.When asked what actions they have taken, or plan to take to strengthen the next generation’s confidence, a majority say they are teaching financial basics (66%), engaging in financial discussions (57%), and sharing personal experiences (57%).

Professional guidance towards legacy planning is also in growing demand. 43% of Filipino
respondents have already engaged advisors, and 46% plan to do so.

Benedict Sison, CEO and Country Head of Sun Life Philippines, said: “People today want to
pass on more than wealth; they want to give the next generation the knowledge and values to manage it wisely. With financial literacy becoming a key part of one’s legacy, we are committed to helping families plan and build legacies that last by providing trusted advice and financial education that can bridge the gap between intention and confidence.”

The full report is available here: www.sunlife.co/PassingTheTorchStudy.

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