I am not 100% sure on the tax implications, but I would put everything into a trust and put my heirs as owners of the trust upon my death, basically transfer ownership before death....
That is how Trusts already work.
Parents create a Trust. They die. The cap gains in the Trust are zero, and the price basis for the stock (or the asset) is reset to the price of the stock (or the asset) on the day you died.
What this law would do is require your kids - or their Trust - to pay capital gains tax based on the price of the stock (or asset) on the day you bought it.
Among other things, this law would punish investors who buy for the long term.
Also, during your life, you never materially benefited from the increased value of that stock.
During your life you may have received dividends from that stock, but you reported that income and paid tax on it.
Oh, they'll find a way around that by putting a time limit on it. For example they will say if something was put in a trust within 10 years of your death, that was done for the purpose of avoiding taxes, so you are going to be taxed the full amount