Latvian and EU citizenship for your children
If you have children after getting your Latvian citizenship, your children will be able to get Latvian citizenship by birth and pass it on to their next generation.
Persons that acquired dual citizenship by birth were required to choose which citizenship they want to keep when they turned 21 years old.
If you have children after you already got your Latvian citizenship, your children would get Latvian citizenship by birth and will be able to pass it to their children and grandchildren. - it goes 3 generations back: parents, grandparents or great grandparents. Children do not become citizens automatically. They need to apply separately.
Though, children born to the person with dual citizenship will automatically get Latvian citizenship as well, as well as their children and their children. So this is an investment for generations.