evidence: Wealth inequality is higher in the United States than in almost any other developed country and has risen for much of the past 60 years. Racial wealth inequities have persisted for generations, reflecting the long-standing effects of racist policies, not individual intentions or deficits. In a nation that professes that those who work hard and play by the rules should be rewarded with social and economic upward mobility, these persistent disparities are a stark reminder that, as a society, we have not achieved this goal. [...] Research shows that even at higher income levels racial wealth gaps remain. People of color often have additional familial financial responsibilities and fewer inheritances, so having a higher income may not be enough to accumulate wealth at rates similar to those of white families. Baby bonds (or "child trusts") and reparations for Black American descendants of slavery could help close these gaps. [...] Facilitating intergenerational transfers, including through wills and legal property transfers, is essential to narrowing wealth disparities. State and local governments as well as nonprofits and philanthropies could support wealth building among people of color by offering estate-planning assistance, particularly geared toward low-income communities.