The group also said it's important to initiate the conversation, no matter how uncomfortable.

"Having the conversation isn't greedy on behalf of the younger generation. You have it so generations beyond can continue to farm. You need to have a plan," says Hensley, who also notes that land prices have caused a challenge in transition planning. "You have to have a dialogue with off-farm siblings so they understand role of the farm."

Suderman suggests bringing in a third party to work through family dynamics, as well as including in-laws.

"You should include in-laws, off-farm kids in planning," says Hensley.

"In-laws will be involved whether they're there or not," says Suderman, pointing out that if they aren't present at the meetings, the sibling will talk to them about what went on once they get home anyway.

Transparency is key in the transition process.

"Some kids won't like your decisions. That's why it's so important to be transparent," says Frye.

"Make decisions on the ground, rather than in the emotion of the moment," says Suderman.

And one last piece of advice during the session came from Knorr, regarding in-law involvement.

"For in-laws participating, there's a time to talk and there's a time to shut up. Know the difference; everyone will appreciate it," he says.