Legacy Planning Insights for Asian Families

This report presents findings on legacy planning among families in Asia, highlighting the significance of financial security, values, and opportunities for future generations. It details a survey conducted with over 3,000 respondents from various Asian countries, revealing that 70% prioritize financial protection for their families, while 53% emphasize the need for clear estate planning. The report notes a projected intergenerational wealth transfer of approximately US$5.8 trillion by 2030, raising concerns about the preservation of wealth and family values. Despite the growing awareness of legacy planning, many families remain unprepared, with only 19% feeling fully ready. The document outlines the challenges faced by families, including fears of wealth erosion and the need for financial literacy. It emphasizes the importance of professional guidance and open discussions about wealth transfer, particularly among affluent and younger generations. The findings indicate a shift towards integrating financial education as a key component of legacy planning, aiming to equip future generations with the necessary skills to manage inherited wealth responsibly.