Yes. Interestingly enough, that's where the resale rates started. A famous artist's family was living in poverty while his pieces were selling for far more than they did during his lifetime, so it started with estates.
Of course, we are primarily concerned with living artists, but, as Josh mentioned, it is often thought of as a collective thing. The royalties do help the family later on. Every other part of copyright includes estates, so why wouldn't this?