RCBC Inheritance Planning: When to Talk to Your Heirs About Wealth

Inheritance may feel like a sensitive subject for Filipinos. Many families hesitate to talk about money, wills, or succession out of discomfort, modesty, or fear of conflict. But one thing is certain: the longer you wait, the harder the conversation becomes.

Families can start inheritance planning on a positive note and approach it with care. By framing the discussion around protecting the family’s future and creating a lasting legacy, it becomes a shared journey rather than a challenging task.

So, when should you talk to your heirs about their inheritance?

The Best Time Is Now

Not someday, not when you retire, and not when a health issue arises. The best time is today—before a time of crisis, and while everyone has clarity and peace of mind.

Inheriting wealth brings out deep emotions. But these feelings are normal and should not hinder your heirs from planning their inheritance. What matters is starting the dialogue early enough so your family can process and accept it.

After all, inheritance is more than just passing down wealth; it’s about preparing the next generation to carry your purpose forward.

Why You Need an Inheritance Plan

Conversations surrounding family wealth should be based on a well-defined inheritance plan to avoid confusion and mismanagement. Here’s why a plan is important:

• Prevents Misunderstandings. When heirs know what to expect, they’re less likely to feel surprised or hurt. Transparency sets clear expectations.

• Preserves Family Unity. Avoiding the topic leaves room for assumptions or disputes. Open conversations keep the family together.

• Promotes Financial Stewardship. Early education ensures heirs, especially younger ones, are prepared for large sums of money or complex assets.

• Protects Your Wishes. A clear plan, supported by legal documents and trusted advisors, ensures that your wealth is distributed exactly how you intend.

How to Start the Conversation About Wealth

If you’re ready to talk about wealth with your family, here are some tips to guide you:

1. Decide Who Should Be Involved

Gather key family members or compulsory heirs, including your spouse, adult children, and trusted relatives. The group may vary based on your assets or family structure, but make sure everyone directly affected is included.

2. Be Sincere and Straightforward

Approach the conversation with honesty. Tell them why this matters to you, and why you’re choosing to talk about it now.

3. Explain What Your Wealth Means to You

Your wealth wasn’t built overnight. It is a product of years of hard work. Talk about your journey and the values that guided you along the way to give your heirs a deeper appreciation of the legacy they will one day receive.

4. Discuss How You Want Your Wealth Distributed

Specify your major assets, including properties, businesses, or investments, and how you would like them to be transferred. Don’t forget to include items with sentimental value.

5. Share Charitable Causes or Advocacies You Want to Support

Whether it’s giving back to your community or starting a family foundation, let your heirs know what matters to you beyond the balance sheet.

6. Listen and Answer Questions

Encourage your family to speak freely and address concerns or misconceptions. It builds trust and ensures mutual understanding.

7. Seek Professional Support

Sometimes, a neutral expert makes all the difference. RCBC can help you structure your plan, explain legal and financial details, and support your heirs with long-term advice and education.

RCBC: Fueling Passion for Generations

At RCBC, we believe that inheritance is more than just wealth. For decades, we have been a trusted financial partner in every Filipino milestone—from buying their first home to starting their own families. Today, we continue that legacy by helping parents secure their heirs’ future. 

Through our wealth management solutions, we provide families with:

• Personalized legacy planning

• Structured wealth transfer strategies

• Trust services and portfolio management

• Next-generation education and financial mentorship

RCBC has been honored with the Philippines' “Best for Success Planning” award at the Euromoney Private Banking Awards in both 2024 and 2025. We also received the Best for “Next-Gen/Millennials in the Philippines” award at the Asiamoney Private Banking Awards in 2023. These awards reflect our dedication to preserving the aspirations that define the next generation.

Let’s plan your legacy today! Open an account with RCBC Wealth to get started and receive rewards and other exclusive perks.