More Malaysians are drafting wills, yet most doubt their wealth will endure
A Sun Life Asia survey shows that 37% of Malaysians now have written legacy plans, but 80% fear their assets won’t survive beyond the next generation.
Sun Life Asia’s latest "Passing the Torch" survey reveals that 37% of Malaysians have fully recorded and communicated their legacy intentions, up from 15% a year earlier, and the proportion without any plan dropped to 10%. The research, which included 506 Malaysian participants among 3,073 across six Asian markets, shows that 80% of those intending to transfer wealth fear it will not survive the next generation, compared with 70% regionally.
Ho Teck Seng noted that merely documenting wishes is insufficient; families must ensure heirs understand and can manage the responsibilities. Market swings (54%) and concerns about beneficiaries’ preparedness (49%) top the list of worries, followed by potential family conflict (47%) and possible legal or tax changes (37%). Millennials exhibit the highest anxiety, yet 69% still believe their wealth will benefit future generations, with education, wealth preservation, and family traditions cited as primary legacy goals.
Why it matters
The findings highlight growing financial-planning activity in Malaysia but also deep uncertainty about wealth transfer across generations.
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