Manila, Philippines (December 2025) – A new survey from Sun Life Asia reveals that financial security is a cornerstone of legacy planning across the Philippines. However, as many as 81% of Filipinos fear their wealth will not last beyond their children’s generation. The findings underscore an urgent need for structured planning and financial literacy.
- More than seven in 10 Filipinos say ensuring their family’s financial security is the most important element of legacy planning.
- 69% want the wealth they leave behind to be used to support essential family needs, such as housing and healthcare.
- Four in five (81%) fear their wealth may not be preserved beyond their children’s generation.
The research, titled Passing the torch: Building lasting legacies in Asia, surveyed over 3,000 respondents. They came from the Philippines, Hong Kong, Indonesia, Malaysia, Singapore, and Vietnam. The study highlights attitudes, behaviors, and aspirations around legacy planning in Asia.
Asia will see the largest intergenerational wealth transfer in the coming decade. As a result, effective legacy planning is a growing priority for families. It covers not only financial assets, but also the preservation of values, traditions, and opportunities for future generations.
Building a legacy of security and opportunity
More than seven in 10 Filipino respondents (77%) say protection for their family’s financial security is the most important factor in legacy planning. Educating future generations about financial responsibilities follows at 53%. Building enough wealth to pass down comes next at 52%.
Most Filipino respondents want their legacy to ensure family security. In fact, 69% prefer that future generations use inherited assets for essential needs, such as housing and healthcare. Many would also like their legacy invested in long-term wealth creation (63%). Others want it to fund education, from school to college or vocational training (62%).
Concerns around legacy not lasting beyond the next generation
Four in five (81%) fear their wealth may not last beyond their children’s generation. More than half (64%) worry that their heirs are not financially equipped to manage inherited assets. These figures underscore the need for better financial literacy and open family dialogue about money. Meanwhile, only 45% are confident their children will uphold their wishes, preserve assets, and keep growing them.
Concerns are most pronounced among the affluent, who describe themselves as “very concerned” about wealth preservation. Greater wealth often brings greater responsibility and considerably higher stakes.
Legacy is not just about money – it’s about meaning
Asian families define legacy in multidimensional terms. When asked what legacy they want to leave, 37% cite passing on wealth, including money, property, or a family business. Another 16% want a personal influence on family and friends. Meanwhile, 13% want to pass down family traditions, values, and life lessons.
Worries extend beyond money to family values. Only 43% of Filipino respondents believe their children will uphold family traditions. Respondents cite diverging priorities among younger generations (70%) as a major factor. They also point to limited engagement (39%), misinterpretation of values (38%), and weaker intergenerational bonds (31%).
Many underprepared despite growing awareness
Awareness of legacy planning is growing across the Philippines, but preparedness remains low. Only 18% feel fully prepared if they were to pass away today. Just 6% have completed and communicated their legacy plans. Over half (53%) have only partial plans, and 25% have nothing at all.
Many legacy discussions also lack structure. Almost half (42%) of these conversations are informal or casual. However, only 19% of respondents say that is the best setting.
Financial literacy is a valuable family legacy
Families are turning financial education into another form of inheritance. Asked what actions they have taken or plan to take, a majority say they are teaching financial basics (66%). Others are engaging in financial discussions (57%) and sharing personal experiences (57%).
Demand for professional guidance is growing as well. In fact, 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.
