The report feeds into a busy global intergenerational wealth transfer narrative, and how this plays out not just with liquid assets and real estate, but operating companies.

Some 78 per cent of family-business respondents across Asia say the next generation is willing to take over the business, yet only 26 per cent have a fully developed succession plan, according to research from Sun Life Asia.

Readiness, rather than appetite, is the growing obstacle. Among families whose heirs are not fully willing to step in, the share citing a lack of preparation or experience rose to 39 per cent in 2026 from 28 per cent in 2025. Lack of interest fell to 34 per cent from 43 per cent, while a preference to sell or cash out dropped to 12 per cent from 22 per cent.

The state of the business itself is also a factor. Some 23 per cent of this group cited a lack of digital innovation as a reason for their reluctance, more than double the 10 per cent recorded a year earlier.

The report adds to a steady flow of research from banks, insurers and wealth managers on succession and legacy planning, reflecting how prominently intergenerational wealth transfer now features in firms’ marketing and thought leadership as they seek to retain assets as they pass them to heirs.

“The next generation may want to continue the family business, but willingness and readiness are different things,” said David Broom, chief client and distribution officer at Sun Life Asia, the Asian arm of the Canadian financial services group. “They also need to consider whether the business they are handing over is one the next generation wants to lead.”

The study also examined how families divide wealth. Two-thirds of respondents believe a fair division does not always mean an equal one. Contribution to the family or business and caregiving responsibilities were the most cited factors, at 18 per cent, followed by financial need at 16 per cent and wider family circumstances at 14 per cent.

Reliance on professional help is rising. Some 56 per cent have sought advice on legacy planning, up from around half in 2025, and half believe that financial advisors should take the lead. A further 37 per cent have included, or plan to include, younger family members in financial or investment decisions.

Divergence
Hong Kong and Singapore diverge on preparation. A third of Hong Kong respondents have a fully developed succession plan, against 18 per cent in Singapore. In Hong Kong, 73 per cent have sought professional advice and 41 per cent have fully communicated legacy plans to heirs, compared with half and 25 per cent respectively in Singapore. Singapore respondents were more likely to cite legal or tax complexity as a barrier, at 43 per cent against 25 per cent, and more likely to teach younger generations financial basics, at 41 per cent against 28 per cent.

This news service recently examined the ways in which life insurance and wealth management cross over in Asia.