More than 150 million acres of U.S. farmland could change hands over the next 10 to 20 years, creating one of the largest generational transfers of agricultural land in the nation’s history. American Farmland Trust estimates more than 40 percent of U.S. farmland could transition to new owners during that period, largely as aging landowners retire. The average U.S. producer is now more than 58 years old, and many farmland owners are 65 or older. As land passes to heirs, some of whom may not farm, ownership can become divided among multiple family members. Without a plan, farm families can face disputes, forced land sales, or fragmentation of the operation. Estate planning can help families determine who will own and manage the land while protecting its financial value and long-term use. Trusts, LLCs, and buy-sell agreements are among the tools families can consider, but experts say communication among heirs is just as important. For landowners, starting those conversations before a transition occurs can help preserve both family wealth and the farm’s future.
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