Question: Why do we name our children after deceased people?
Answer: To perpetuate their memory. If a man dies without children, his widow should (in Biblical times) marry the deceased’s brother so that the child born to them would continue the name of the deceased. Our naming our children after dead relatives is similar. It does follow that only one descendant needs to be named after the dead. That many members of the family name offspring for the same deceased relative is a sign of respect for that relative and in order to maintain a connection in each unit of the family.
Rabbi Azriel Schreiber