Sunlife research finds family contribution and caregiving influence how wealth is divided, as successor readiness emerges as a growing challenge

• Two-thirds of family-business respondents surveyed believe a fair division of wealth does not always mean an equal split
• When deciding how to divide wealth, families weigh contribution to the family or business and caregiving responsibilities (18%), followed by financial need (16%)
• 78% of those involved in the family business say the next generation is willing to take over
• Among families where the next generation is not fully willing to take over, 39% cite a lack of preparation or experience, up from 28% in 2025
• 56% of family-business respondents have sought professional advice for legacy planning, yet only 26% have a fully developed succession plan

HONG KONG (October, 26, 2026) – Two-thirds of family-business respondents across Asia believe dividing wealth fairly does not always mean dividing it equally, according to new research from Sunlife Asia. The finding points to one of the more personal questions families face in legacy planning: how to treat family members fairly when their roles, contributions and responsibilities differ.

The research found that families consider several factors when deciding how wealth should be divided. Contribution to the family or business and caregiving responsibilities account for 18%, followed by financial need at 16% and wider family circumstances at 14%.

David Broom, Chief Client and Distribution Officer at Sunlife Asia, said: “Fairness means different things for different families. One child may have spent years helping to build the business, while another may have taken on responsibilities elsewhere in the family. There isn’t always a simple answer. Having these conversations early and agreeing on clear principles can help families make decisions that everyone understands.”

Next generation willing, but not always ready

The research also points to a shift in the challenge facing Asia’s family businesses. More than three-quarters (78%) of family-business respondents say the next generation is willing to take over, yet only 26% have a fully developed succession plan.

Among families where the next generation is not fully willing to take over, the proportion citing a lack of preparation or experience rose from 28% in 2025 to 39% in 2026. At the same time, lack of interest fell from 43% to 34%, while the proportion citing a preference to sell or cash out dropped from 22% to 12%.

This suggests willingness alone may not be enough. Families also need to build the next generation’s knowledge and experience and prepare the business for a future handover.

Digital readiness is also emerging as a key succession challenge. Nearly one-quarter (23%) of respondents whose next generation is not fully willing to take over the business cited a lack of digital innovation as a reason, more than double the 10% recorded in 2025. The sharp increase suggests that younger successors are becoming less willing to inherit businesses they perceive as lagging in an increasingly digital economy.

David Broom said: “The next generation may want to continue the family business, but willingness and readiness are different things. Families need to give future leaders the experience and financial knowledge to make informed decisions. They also need to consider whether the business they are handing over is one the next generation wants to lead. That takes long-term planning well before succession happens.”

More families are seeking advice

More family-business respondents are seeking professional advice as they work through these decisions. Fifty-six percent have sought professional advice for legacy planning, up from around half in 2025, while half believe financial advisors should take the lead.

Families are also including their potential successors in planning discussions. Thirty-seven percent have included, or plan to include, younger family members in financial or investment decisions. Another 32% have encouraged, or plan to encourage, younger family members to engage with advisors.

Hong Kong and Singapore: shared concerns, different approaches

Family businesses in Hong Kong and Singapore share the same concerns about readiness for succession. Among those whose next generation is not fully willing to take over, 38% in both markets cite a lack of preparation or experience.

The two markets differ in their preparation for succession. Among all family-business respondents, a third in Hong Kong have a fully developed succession plan, compared with 18% in Singapore. Almost three-quarters (73%) of respondents in Hong Kong have sought professional advice, compared with half in Singapore. In addition, 41% of Hong Kong respondents have fully communicated their legacy plans to heirs, compared with 25% in Singapore.

Singapore respondents place greater emphasis on building financial knowledge among younger family members. Forty-one percent teach, or plan to teach, younger generations financial basics, compared with 28% in Hong Kong. They are also more likely to believe advisors should play a role in legacy planning, at 89% compared with 73% in Hong Kong.

Legal and tax issues are a further consideration. Forty-three percent of Singapore respondents cite legal or tax complexity as a barrier to legacy planning, compared with 25% in Hong Kong, while 37% of Singapore respondents would like to seek professional guidance in the future.

Together, the findings show that legacy planning for family businesses is about more than deciding who inherits what. Families also need to agree what fair means, prepare the next generation to take on the business and start those conversations early. Professional advice can help families make these decisions with greater clarity and build a plan that reflects both the needs of the family and the future of the business.

Sunlife Asia’s Passing the Torch 2026 report is available here.

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About this survey

This is Sunlife 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 406 family business respondents.

About Sunlife 

Sunlife is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sunlife 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, Sunlife had total assets under management of $1.70 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.

Media Relations Contact:

Adam Welch
Director, Communications, Asia
T: +852 9071 1821
adam.welch@sunlife.com