This study estimates intergenerational wealth correlations across up to four generations and examines the degree to which the wealth association between parents and children can be explained by inheritances. Using a Swedish data set with newly hand-collected data on wealth and bequests, we find parent-child rank correlations of 0.3-0.4 and grandparent-grandchild rank correlations of 0.1-0.2. Bequests and gifts appear to be central in this process, accounting for at least half of the parent-child wealth correlation while earnings and education can account for only a quarter.