Apparently the US tax code is even worse than that [0]. How is this not generational tax avoidance:

> Capital gains taxes on accrued capital gains are forgiven if the asset holder dies—the so-called “Angel of Death” loophole. The basis of an asset left to an heir is “stepped up” to the asset’s current value.

(Cue the panicmongering 'divide the family farm' story. Obviously Congress and the IRS can't figure out different treatment of stock, real estate, investments, farms.)

[0]: https://www.brookings.edu/policy2020/votervital/what-are-cap...