You should keep current ownership expectations in mind and consider what these mean for the future. Some key questions to consider are:

What is the current ownership structure? How many owners? What ages? What percentage of stock ownership does each owner have?
Is there an existing perpetuation plan?
Does each owner share the same desire to perpetuate?
Can each owner afford to retire?
Do agency owners understand and appreciate the personal retirement goals of each owner?
How important is it for your agency to remain independent after your transition?
How important is it for the business name to survive?
How important is it for you to see the staff remain after your departure?
Do any family members or key employees have any interest in owning a part of the agency?
How involved are families in the plans?
Do you have non-compete / non-solicitation agreements for each owner? (These are subject to change with the new FTC ruling.)
How do the wills and estate plans of each owner affect the perpetuation plan?
Will the agency continue to pay for perks and benefits (such as group health) for departing owners?

Avoid surprises

One purpose of a documented perpetuation plan is to help the owners avoid surprises. So, beginning with the end in mind, the partners can work to develop a plan that ensures an orderly and regimented transition of agency stock, books of business, leadership, and relationships, while avoiding any surprise retirement announcements.

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Questions to consider in the agency perpetuation process

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