The Satmar Rav was once talking to a gvir from the more modern sectors of Yiddishkeit, meaning he was clean shaven, beardless. Some of the chassidim were chuckling to themselves, wondering why is the Rebbe speaking with such a person? The Rebbe recognized their confusion and said to them: when he dies the heavenly court is going to ask him "Reb Yid, where is your beard?" but when you die they are going to ask you: "Reb beard, where is your Yid?"via: Raisin' Soul
Update: I asked my rebbe, Rav Moshe Weinberger and he told me a more detailed version of what is probably the same story.
There was a clean-shaven Litvishe Rosh Yeshiva, Reb Leib Mehlman who was very close with the Satmar Rov. He always got into Reb Yoilish whenever he wanted to and the Satmar Rov even did something very rare with him. When he walked Reb Leib out, he walked him all the way to the street, an unusual honor. Some of the Chassidim were a bit jealous of him and weren't happy that he got in to see their rebbe immediately when it took some of them weeks to get an appointment.Ouch!
Finally, one of the choshuveh older Chassidim came up to the Rebbe and asked him why he was honoring Reb Leib Mehlman so much. He wasn't even one of his chassidim and didn't even have a bord, a beard!
So the Satmar Rov answered him, "It's a gut kashe. So when he goes up to shomayim, they're going to ask him, "Ah Yid un a bord!?" "A Yid without a beard?!"
But when you go up to shomayim, they're going to ask you, "Ah bord un a Yid?!" "A beard without a Yid?!"
Picture courtesy of matzav.com.