Generational wealth is a significant problem as winner take all dynamics tend to concentrate wealth within families until they get so powerful that they form aristocracies. The US is new enough that it’s aristocracy is just getting started. Several European countries lack them because war or revolution hit the reset button, but if you look at a country like the UK, you will see it alive and well.

Plenty of UK nobility has no substantial assets to speak of other than a house that’s ten times bigger than they need and a constant money pit.

The traditional way out is to marry a rich commoner who wants their children to be titled.

On the other hand, generational wealth below obscene amounts is a vital stabilizing force in a society. A middle to upper middle class family passing on a boost to each subsequent generation is a good thing. Grandparents help pay for their grandkids' schooling, kids have some sense of stability and a safety net, etc.

We need many layers of safety nets and stabilizing forces, because every layer is prone to different types of failure. There is a natural and desirable support structure of individial -> family -> community -> state -> humanity that allows society and individuals to survive and thrive through changing circumstances. Too much reliance on any one layer, especially the state, is a recipe for fragility or tyranny.

When every individual has an emergency fund, every family has a nest egg, every community pulls together in time of need, and every state provides a safety net of last resort, we can weather any storm.

>Personal ownership is already limited by the owner’s lifetime and automatically transfers when they die. Copyrights, on the other hand, outlive the creator.

well personal ownership generally gets passed to your kids when you die and then to their kids etc. so as long as your descendants do not sell it, that lasts forever.

Copyrights might last past you to your kids but probably not to your kids' kids and further.

A portion passes to your kids, the rest accrues to the state through inheritance tax. What the proportion is depends on where you live.

well that's true, but are you under the impression that the value of copyrights are not ever taken into account in determining the value of an artist's estate and are thus not taxed at the time of death?