Growing social and economic inequalities in the United States have been accompanied by shifts in family structure. Social and demographic changes may make multigenerational family ties (e.g., between grandparents, parents, and children) an even more important contributor than ever in perpetuating inequality. The family life course framework, which considers how dimensions of individual (age), sociohistorical (period, cohort), and processual (generation) time intersect, provides a useful structure for thinking about how multigenerational families matter for inequality today. We integrate these dimensions of time with the ideas of linked lives and cumulative inequality to propose ways in which advantage and disadvantage are transmitted and grow across multiple generations. In particular, we propose an integrative model of linked lives and cumulative inequality that extends the family life course framework into a multigenerational perspective. We conclude by identifying data sources and methodologies useful for family scholars interested in pursuing a multigenerational family approach to inequality.