In the Philippines, many Filipinos now see legacy as a combination of financial security, family values and educational opportunities for future generations, rather than simply passing on wealth.
According to Sun Life Asia’s latest study, ‘Passing the Torch: When Legacy Means More Than Money’, while 92% of Filipinos intend to leave financial assets or wealth to future generations, 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 Sun Life Philippines Country Head and CEO JJ Moreno.
“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 is a meaningful shift in how families think about long-term financial planning.”
More Filipinos 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 formalised 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
Despite greater planning activity, many respondents remain concerned about whether their wealth will endure across generations. In fact, the study found that 82% are worried 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.
Legacy conversations happening, but remain unfinished
The study also 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.