- Among Singapore respondents worried their wealth will not last beyond the next generation, 55% cite beneficiaries’ financial preparedness, ahead of market volatility at 43%.
- Fully documented and communicated legacy plans rose from 12% in 2025 to 32% in 2026.
- Among high-net-worth respondents, 82% are confident in their own financial literacy, but only 29% have fully documented and communicated their legacy plans.
Singapore (25 September 2026) – Singaporeans are making significant progress in documenting and communicating their legacy plans, but preparing the next generation to manage inherited wealth remains a major concern, according to new research from Sun Life Asia
Sun Life Asia’s latest Passing the Torch: When legacy means more than money report found that, among Singapore respondents concerned their wealth may not survive beyond the next generation, 55% worry beneficiaries will not be financially prepared to manage it. This ranks ahead of market volatility (43%) and future legal, regulatory or tax changes (40%).
The proportion of Singapore respondents with a fully documented plan that has been communicated to heirs rose from 12% in 2025 to 32% in 2026, while the proportion with no plan fell from 32% to 8%. The findings point to a new challenge: preparing beneficiaries for the decisions and responsibilities that follow the transfer of wealth.
Sujoy Ghosh, Chief Executive Officer of Sun Life Private Wealth, said: “Families have traditionally focused on how wealth will be transferred. These findings show they also need to consider what happens after. Preparing the next generation means helping them understand the choices behind family wealth, exercise sound judgement and build the confidence to manage it well.”
Preparing people, not just assets
Almost a third of Singapore respondents (31%) worry future generations may lack the confidence to manage what they receive. Poor financial decisions or overspending (29%) and poor investment decisions (27%) are also commonly cited risks to family wealth.
Preparing heirs matters because respondents want their legacy to carry more than financial value. While 65% rank money, property or other valuable assets among their top three legacy priorities, 46% prioritise family traditions, 34% personal influence and 32% educational opportunities for the next generation.
The tension between hopes for a legacy and concerns about its longevity is particularly pronounced among Millennials. Among those intending to pass on financial wealth, 81% worry it may not survive beyond the next generation, compared with 69% of Gen X, 65% of Baby Boomers and 59% of Gen Z.
At the same time, younger respondents also have high expectations for what their wealth can achieve. Two-thirds of Millennials (67%) and 65% of Gen Z believe their wealth will have a lasting, multi-generational impact, compared with 51% of Baby Boomers.
Sujoy added: “A legacy passes on more than assets. It also carries values, judgement and assumptions about how the world works. The goal should be to make succession a transfer of confidence: helping the next generation understand the choices behind family wealth while giving them the foundation to build their own.”
Financial confidence has yet to translate into completed plans
The gap between confidence and action is particularly clear among Singapore’s high-net-worth (HNW) respondents. While 82% are confident in their financial knowledge, only 29% have fully documented and communicated their legacy plans, and 66% of those intending to leave wealth worry it may not survive beyond the next generation.
HNW respondents also place greater emphasis on professional support: 81% believe financial advisers or wealth professionals should play a role in legacy planning, compared with 54% of non-HNW respondents.
Turning plans into shared understanding
The role of professional advice extends across the wider Singapore sample. More than half (54%) have sought professional advice for their legacy needs, while a further 31% would like to do so.
Alongside professional support, family discussions play an important role in helping the next generation understand what lies ahead. These discussions are already taking place: nearly three-quarters of Singapore respondents (72%) say older generations in their family have communicated at least some aspects of their legacy plans, although only 34% say those plans have been communicated fully.
As more families put formal plans in place, involving heirs in conversations about the purpose and management of wealth can help turn documented intentions into informed decisions when wealth changes hands.
The full report is available here.
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About this survey
This is Sun Life Asia's second annual Legacy Planning survey, following 2025's Passing the Torch: Building Lasting Legacies in Asia. Fieldwork was conducted in August 2026 across six markets, Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Vietnam, gathering responses from 3,073 people across wealth levels and generations, including 521 in Singapore.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2026, Sun Life had total assets under management of $1.7 trillion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars
