Most people don't understand that truly wealthy people don't generally leave an inheritance to their children. I mean Warren Buffett, Bill Gates, Jeff Bezos money. They transfer money and assets to a trust, a foundation, or something similar during their lives so their children and grandchildren are take care of and the government gets nothing.
But see, that requires cash to pay lawyers to set up these rather sophisticated legal entities.
Generally poor and middle class people lack the disposable income to pay for these ongoing legal services so the state exploits them and takes their assets for themselves.
None of this considers the problem of "heirs property" which is an ongoing issue in rural parts of the south that are being encroached upon by developers.
Heirs property is when the grandparents die on the family farm with six kids. And one marries and stays to help mom and dad keep up the farm and then inherits the farm with their five siblings consent. Without a will or any legal proceeding undertaken. Then that mom and dad have six kids and again one stays to keep up the farm and inherits with their siblings consent, again, without legal process.
And then a real estate developer from out of Chicago decides he can buy this 100 acre farm and turn it into a beachside community and make millions. But the people who live there don't want to sell. This is their great-grandparents farm and they want to keep it a farm.
So the Chicago developer hires an heirs locator service. And finds a second cousin who, because no legal proceeding was begin when grandma and grandpa died, inherited a piece of the property under law. This is where we're talking a 1/16 or 1/22 interest in the property. The second cousin even lives in Chicago.
The cousin has never met the cousin who lives on the property and the developer is going to give the cousin $50,000 to sell their interest in a property they've never seen or heard of to the Chicago developer.
Of course the second cousin who just graduated college is ecstatic. They just have to sell something the didn't know they had and didn't even want and they'll get money to pay off all their student loans. So the cousin signs the paperwork.
The developer now has an interest in the property. If you have an interest in a property and you have a conflict with the other owners you can force a sale.
The Chicago developer goes to court. Gets an appraisal and shows with the development the property is now worth $22 million, or $1 million per share. That means the people who are farming the land, have lived there their whole lives, and are making maybe $50k/year, now must come up with $21 million, or have the property sold.
In a surprise to no one, the people living on the property cannot come up with $21 million. The property is sold. The developer bids it up. The developer buys the property for $6 million because they've made sure to publish in obscure newspapers.
The developers razes the property, builds a beachside development with 250 homes starting at $500k/ each.
And the people who've lived and farmed the property for generations? They get 1/22 of $6 million. And reimbursement for the property taxes they've paid.
None of which will buy them a similar sized farm.
A three generation family business was ended because a greedy carpetbagger wanted to sell out-of-staters cheap beach houses.