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Kuala Lumpur, 15 October 2025 — A new regional study by Etiqa on wealth transfers is redefining how families in Malaysia and Singapore approach wealth transfers. The Etiqa Wealth Transfer Survey 2025, conducted in partnership with global research agency Kantar, uncovers a cultural transformation that conversations around inheritance is no longer seen as taboo, but instead an act of love, responsibility, and long-term planning.
The survey, which captures insights from residents aged 18 to 60 across Singapore and Malaysia, offers a rare cross-border perspective on how families are navigating the emotional, financial and societal aspects of legacy planning in today’s changing landscape.
Across both countries, families agree that leaving a legacy is not just desirable, it is essential. In Singapore, 77% of respondents affirm the importance of passing on wealth. In Malaysia, 55% of both younger and older Malaysians expressed the same. While the value of inheritances differs, with Singaporeans on average expects to give or receive between SGD 500,000 to SGD 1 million, compared to most Malaysians who anticipate between RM50,000 and RM500,000 inheritances, the motivation is the same, to secure family stability and prosperity of their families.
Inheritance, once a hushed subject, is becoming a vital conversation at family tables. In Singapore, a striking 83% now believe it is important to discuss inheritance openly, a shift led by younger respondents. Similarly in Malaysia, 57% of Malaysians, primarily younger adults, are actively encouraging their parents and elders to speak candidly about legacy planning. This signals a cultural shift in both societies, where open dialogue is now seen as essential to preventing future conflicts and uncertainties.
The study also reveals shared concerns among Singaporeans and Malaysians families in areas such as family conflict, mismanagement of inherited wealth, and erosion of family values due to resentment between family members. These findings highlight that inheritance is not just about assets, but trust, preparation, and the values instilled in the next generation.
The survey also highlights a clear shift in how wealth is being transferred. In Singapore, while cash (79%) and property (72%) remain the most common forms of transfer, nearly half (49%) of respondents now see insurance as a strategic tool for legacy planning. In Malaysia, the pattern is mirrored, with property leading (76%), followed closely by insurance (56%) and cash (55%). This trend signals that insurance is no longer viewed as protection against life’s uncertainties, but as a disciplined and reliable instrument to ensure wealth is preserved and passed on seamlessly across generations.
The study also reveals shared concerns among Singaporeans and Malaysians families in areas such as family conflict, mismanagement of inherited wealth, and erosion of family values due to resentment between family members. These findings highlight that inheritance is not just about assets, but trust, preparation, and the values instilled in the next generation.
The survey also highlights a clear shift in how wealth is being transferred. In Singapore, while cash (79%) and property (72%) remain the most common forms of transfer, nearly half (49%) of respondents now see insurance as a strategic tool for legacy planning. In Malaysia, the pattern is mirrored, with property leading (76%), followed closely by insurance (56%) and cash (55%). This trend signals that insurance is no longer viewed as protection against life’s uncertainties, but as a disciplined and reliable instrument to ensure wealth is preserved and passed on seamlessly across generations.
Families are also taking proactive steps to prepare the next generation. In Singapore, many respondents reported involving them in financial planning discussions (42%), instilling values of responsibility and hard work (41%), and setting up a trust with clear guidelines and milestones (38%). In Malaysia, similar approaches are being taken, with instilling values of responsibility and hard work (54%), involving them in family financial discussions (53%), and introducing them to trusted financial advisors early (40%). These actions reflect a growing awareness that legacy is not simply about money, but about equipping heirs with the values and knowledge to sustain it.
Kamaludin Ahmad, Group CEO of Etiqa Insurance & Takaful said, “What we’re seeing in both Singapore and Malaysia is a shared desire among families to not only pass on wealth, but to pass on stability, values, and security. The study reminds us that legacy is not just about the size of the inheritance, it is also about the thought and planning behind it. Especially, since the Etiqa’s Gen Z Financial Health Survey 2024 already uncovered that younger Singaporeans and Malaysians are reshaping how they save and invest. It’s no surprise that they are now influencing how legacy is discussed and planned. We are truly seeing a generational shift in financial planning across the region.
At Etiqa, we our mission is to Making the World a Better Place. We believe every family deserves the peace of mind that comes from having a structured legacy plan. Our Legacy solutions are designed to ensure that your wealth is protected, your wishes respected, and your loved ones supported, long after they are gone. Having a legacy plan is no longer a privilege reserved for the wealthy. It’s a necessity for every household.”
To explore how Etiqa’s Legacy products can help you plan and protect your family’s future, visit www.etiqa.com.my.
