Titled “Bridging the intentions-action gap”, the report provides an overview of legacy planning sentiment across nine markets, including Malaysia, and identifies gaps in how individuals approach long-term wealth transfer. The survey found that more than half, or 52%, of Malaysia’s HNW individuals have a formal legacy plan in place, exceeding the survey average of 41%. This places Malaysia ahead of wealthier markets such as Singapore (45%), Hong Kong (26%), and Taiwan (24%).
HNW individuals are defined in the survey as those with investable assets of US$2 million or more. Malaysia also stands out for early adoption of legacy planning. Among respondents, 82% said they began planning before turning 50, the highest among the markets surveyed. In contrast, Taiwan ranked last, with 40% indicating they did not begin legacy planning until after the age of 50.
The report highlights a broader regional trend, noting a pronounced gap between how planned HNW individuals are in Greater China and Southeast Asia. In Malaysia, a strong sense of urgency around legacy planning is partly driven by economic factors, including robust gross domestic product (GDP) growth and rising incomes. Malaysia’s GDP grew by 5.2% in 2025, contributing to increasing entrepreneurial wealth and a growing number of younger HNW individuals.
Family considerations also play a significant role. The survey revealed that 43% of respondents cited the potential for family disputes as their primary concern, underscoring the importance of establishing clear plans early. Life insurance is increasingly being used as a legacy planning tool across the region. Among the nine markets surveyed, 25% of HNW individuals use life insurance as their primary or main legacy planning tool, with India leading, followed by Thailand and Indonesia. Malaysia currently stands at 17%, indicating room for further adoption.
“Asia is in the midst of one of the largest transfers of wealth to the next generation in its history, and Malaysia is very much part of that shift. Against a backdrop of strong economic expansion, Malaysia’s GDP grew by 5.2% in 2025, and with rising incomes, we’re seeing more entrepreneurial wealth and a growing cohort of younger high-net-worth individuals, ” said Linda Yip, Country Head of International Wealth and Premier Banking, HSBC Malaysia.
“This is reflected in the way Malaysians are approaching legacy planning: 52% of HNW individuals in Malaysia already have a formal legacy plan, above the survey average of 41%, and 82% started planning before the age of 50. Family considerations are a key driver. In Malaysia, 43% say the potential for family disputes is their primary concern, underscoring the importance of putting clear intentions in place early,” she said.
“While Malaysia is making strong progress, the survey also highlights an opportunity to broaden the solutions clients use. Across the nine markets surveyed, 25% of HNW individuals use life insurance as their main legacy planning tool; Malaysia is currently at 17%. Life insurance can complement other arrangements by helping families protect beneficiaries and transfer wealth in a more structured and predictable way.”
“At HSBC, our Relationship Managers and Insurance Specialists work with Premier and Premier Elite clients to put clear, tailored plans in place—helping families reduce the risk of disputes, protect what matters most, and pass on wealth in line with their long-term intentions,” she added.
The findings reflect Malaysia’s growing leadership in legacy planning, particularly among younger high-net-worth individuals, while also highlighting opportunities to expand the use of structured financial tools in wealth transfer strategies.
