High net worth (HNW) individuals in Malaysia show a stronger sense of urgency when it comes to legacy planning, supported in part by robust GDP growth and rising incomes, according to the findings revealed by HSBC Life's first survey on HNW legacy planning across Asia and the Middle East.
The survey highlights a disconnect between intentions and actual planning when it comes to wealth transfer in the nine markets covered in the survey, particularly between respondents in Greater China and those in Southeast Asia. HNW individuals are defined as those with at least $2m in investable assets.
According to the survey results, 52% of Malaysian HNW respondents say they already have a formal legacy plan in place, above the overall average of 41%. This places Malaysia ahead of several wealthier markets, including Singapore, where 45% report having a formal plan, as well as Hong Kong (26%) and Taiwan (24%).
The findings also suggest that Malaysian HNW individuals tend to begin planning earlier. Around 82% said they started their legacy planning before the age of 50, the highest among surveyed markets. In contrast, Taiwan shows a later start profile, with 40% of respondents only beginning their legacy planning after the age of 50.
“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 rising incomes, we’re seeing more entrepreneurial wealth and a growing cohort of younger high-net-worth individuals. 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,” said HSBC Malaysia Country Head of International Wealth and Premier Banking Linda Yip in a statement.