My Fair Share

I visited the wake of my client…

As his son saw me, he immediately approached me and asked me these 3 questions….

Question 1 “Sheila, did my father get a life insurance policy with you?”

Question 2 “Sheila, how much was it?”

Question 3 “Is it enough?”

I was happy to answer the first 2 questions, because the answer was a big “YES”.  But the 3rd question… that, I need to find out.

As the son, Junior, settled all the transfers of his father’s wealth, he was pleased to say that there is so much money left for the family after paying all the estate taxes.

Ito exact words na sinabi niya“Maraming naiwan na pera si Papa.”

Wow!  That was a relief….  However as we talked, he was telling me that the share of his dad in their family business was also wiped out!  His uncles and aunts do not want him to be part of the family business anymore since Junior is very young and wala pang experience.  To pay off the share of his father, the uncles and aunts just gave them stocks of goods.

Do you think this is fair?  Considering that Junior’s dad is the one who made the company very successful…  He is the one who made the production line very efficient and thus made their business very profitable.

Of course, the dad did not think that his siblings would do this kind of thing.  Usually, our relatives treat us well if kaharap.  But, if nakatalikod ka na, iba na ang intentions.

So knowing this… that there is a chance na pwede ka ma betray ng business partners mo, make sure that everything is well taken care of.

With this problem, getting the bereaved family’s fair share from the business partners… the best solution is to get a buy/sell agreement.

What is this?

All business partners agree to get each other a life insurance policy worth their business share.  So if one of the business partners die, the other remaining partners will receive the life insurance claims to pay off the share of the bereaved family.  In this way, the business can still continue to operate.

With this buy/sell agreement set up, the bereaved family would have received the fair share of the business. No ifs, no buts, just a fair and equitable solution.

This is like having a superhero cape for your business. It protects you from possible risks and internal conflicts, so you can focus on what’s really important: making sure your family’s legacy will live on. It makes sure that your hard work and dedication keep paying off, even if you have to deal with problems you didn’t expect.  This is achieving AngPao for Life for your family no matter what life uncertainties come along the way.

As a Cash Flow Certainty Coach, I’m here to help you figure out what’s best for your family business wealth transfer.  Buy/Sell Agreement is just one part of the puzzle.  It is a powerful tool that we can use to strengthen your business and protect what’s most important.

If you’re ready to dive deeper or you want to discuss any other financial matters, don’t hesitate to reach out. I’m ready to provide the guidance and support you need.


Sheila Ching Ong is a Cash Flow Certainty Coach, a Registered Financial Planner and an International B.A.N.K. IOS Coach.  She empowers Chinoy parents to be financially free so that they can spend more time with their children without having any money worries through AngPao for Life System which consists of the Life Coaching Program and the Financial Planning Services. 
She provides practical strategies that help you secure yourself, maximize your wealth and be able to enjoy your life to the fullest.  She also has a supportive community for Chinoy parents. Her goal is to help families navigate personal finance, instill smart money habits in your children, and makes sure that your Family’s Wealth Transition is done smoothly to avoid any family conflicts and provide  financial security for generations to come.
Since she has been in the financial planning industry for almost two decades, she has guided thousands of parents in achieving financial freedom.
Join her on this transformative journey as she guides you be financially free to achieve Ang Pao for Life.

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