It seems to take time away from important matters such as growing the business. In actuality, nothing is more important. Perpetuation should be thought about early and prepared for in advance.
Insurance companies demand more of agents and there is a tendency toward lower commissions.
In this type of environment, perpetuation planning is essential. It no longer is simply a matter of passing the agency to a family member. That family member has to be able to take over what today is a complex business that requires a variety of talents. It may very well be that more than one person is needed to do the job of running the agency. You need to get the family member ready to take over the agency.