Wealth tends to translate into power. Multi-generation wealth transfer translates into dynasties. Dynasties are the antithesis of democracy.<p>Hence, multi-generation estates are anti-democratic.<p>Of course there is nuance in the extent of the effect. <i>Some</i> inter-generational wealth transfers are fine. Multi-generation estates wouldn&#x27;t be a problem if everybody had them. And so on. But the core of an important argument against multi-generation estates is very plain. (Other arguments can and have been made as well, of course, <i>including</i> fairness arguments - I didn&#x27;t work for my inheritance, for example.)