“Imagine building your dream business, only to have it fall apart overnight because of a single, unexpected event.”
Imagine a man named Mike, who built a thriving family-owned auto shop over 30 years. He started with a small loan and lots of late nights, and through hard work, his business grew. It provided a comfortable life for him, his wife, and two kids, who grew up around the shop. But Mike, busy as ever, never got around to setting up an estate plan. He figured he’d get to it “someday.”
One day, Mike had a sudden health issue that left him unable to work. His family, in shock and grief, was suddenly faced with hard questions: Who would make decisions about the business? Could his wife take over when she didn’t have the technical know-how? His kids disagreed on how the business should be managed; one wanted to keep it, while the other wanted to sell. Mike passed on 6 months later.
Without a plan, Mike’s family found themselves in probate court, spending months and thousands of dollars just to get access to assets. Tensions rose, and family harmony was strained—all because there was no clear path forward. Eventually, they had to sell the business under stress, losing much of its value and, sadly, a part of Mike’s legacy.
Had Mike set up a simple estate plan, he could have designated someone to manage the business if he became ill, clearly stated his wishes, and outlined a succession plan. His family would’ve been able to focus on each other during a difficult time, rather than dealing with courtrooms and disputes.
An estate plan would have saved Mike’s family from financial and emotional hardship, secured his life’s work, and allowed him to leave a lasting legacy. It’s about peace of mind—not just for you but for everyone you care about.
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs.
Published By:
YF Foong, Eunive (冯玉芬）
“As a dedicated financial advisor, my passion lies in collaborating with individuals, particularly business owners, to safeguard their hard-earned wealth. My primary goal is to ensure that the wealth you diligently accumulate throughout your lifetime is securely protected, smoothly transferred, and effectively preserved for your chosen heirs in a fast, seamless, and reliable manner.
Wealth distribution planning is deeply personal, with each individual harboring unique desires and concerns. I pride myself on being a attentive listener, eager to understand your innermost worries and aspirations. Together, we navigate through your thoughts and preferences to chart a tailored roadmap that aligns with your ultimate wishes.
A well-defined wealth distribution roadmap not only provides clarity but also shields you from unexpected distractions along life’s journey. With this roadmap in hand, you can confidently pursue further wealth accumulation, knowing that you’ve established a robust financial safety net.
I invite you to take the next step forward with me on this journey. Let’s connect soon to discuss your financial aspirations and craft a plan that secures your legacy.”
