Top takeaways from Young Farmer Conference: Initiate discussions and update your will to facilitate smooth farm transition.

Communication is critical when it comes to successful farm transitions as Iowa young farmers work with their parents, grandparents and siblings on an efficient succession plan that will keep the business of farming viable as farm ownership turns over the next two decades.

The average age of U.S. farmers is 58 years old, and approximately 70% of Iowa’s farmland is expected to change hands in the next 20 years. As farmland becomes more valuable and assets on the farm...