Filipinos are taking a more intentional approach to legacy planning, viewing it as more than simply passing on wealth. According to Sun Life Asia’s latest study, Passing the Torch: When Legacy Means More Than Money, many Filipinos now see legacy as a combination of financial security, family values, and educational opportunities for future generations.
Legacy is about purpose, not just wealth
While 92% of Filipinos intend to leave financial assets or wealth to future generations, the study found that what they hope to leave behind goes beyond money. Educational opportunities emerged as the top legacy priority, cited by 56% of respondents, ahead of wealth and family traditions at 45% each.
Among those planning to transfer wealth, 61% want their assets invested for long-term growth, while 55% want them to support essential family needs and 53% want them to help fund education.
“Filipinos are increasingly viewing legacy through a broader lens,” said JJ Moreno, Country Head and CEO of Sun Life Philippines. “The goal is no longer just to pass on wealth, but to create opportunities, share values, and give future generations the tools they need to succeed. That’s a meaningful shift in how families think about long-term financial planning.”
More Filipinos are turning intentions into plans
The research points to significant progress in legacy planning over the past year. Only 8% of respondents said they have no legacy plan in place, down from 25% in 2025. Meanwhile, 36% now have a fully documented and communicated legacy plan, a sharp increase from just 6% a year ago.
The Philippines also ranks among the strongest markets in Asia when it comes to formalized legacy planning, with the country’s 36% rate of fully documented and communicated plans exceeding the regional average of 22%.
These gains are reflected in rising confidence, with 53% of respondents saying they feel fully or mostly prepared for their legacy, compared to 38% in 2025.
Preparing heirs is now a bigger concern than protecting assets
Despite greater planning activity, many respondents remain concerned about whether their wealth will endure across generations. More than eight in ten Filipinos (82%) worry that their wealth may not survive beyond the next generation.
Notably, the biggest concern is no longer market performance. Half of respondents (50%) said their primary worry is that beneficiaries may not be financially prepared to manage inherited wealth, surpassing concerns about market volatility (46%).
The findings were particularly pronounced among younger generations. While 71% of Gen Z and 73% of Millennials believe their wealth can positively impact future generations, 86% and 84%, respectively, also worry that it may not last beyond the next generation.
“The findings suggest that families recognize wealth preservation is not only about growing assets but also about preparing the people who will inherit them,” Moreno said. “Financial knowledge, open conversations, and clear plans are becoming just as important as investment performance when building a lasting legacy.”
Legacy conversations are happening, but many remain unfinished
The study found that 70% of respondents have had at least some legacy-related discussions within their families. However, only 25% said these plans have been communicated fully, highlighting a gap between starting the conversation and ensuring everyone understands the long-term plan.
At the same time, professional guidance is becoming increasingly important. While only 34% have already sought legacy-planning advice, another 50% said they would like to do so in the future. Trustworthiness and integrity emerged as the most important qualities when selecting an adviser, ranking even higher than expert knowledge.
Turning legacy intentions into lasting impact
Legacy planning is ultimately about more than transferring assets. The findings suggest that families can strengthen their plans by documenting their intentions, involving loved ones in meaningful discussions, and preparing future beneficiaries with the knowledge and confidence to manage what they will inherit. Starting these conversations and planning efforts early also gives families more time to align their goals, clarify responsibilities, and ensure their legacy can endure across generations.
“The strongest legacies are not defined by the wealth that is passed on, but by how well future generations are prepared to carry that legacy forward,” Moreno added. “When families take the time to prepare heirs, they give their legacy the best chance to endure for generations.”
The full report of the key findings in the Philippines is available upon request.
To learn more about Sun Life Philippines’ products and services, visit www.sunlife.com.ph. Stay updated by following @sunlifeph on Facebook, Instagram, and TikTok.
