I actually do this all the time on various buses, and also on the Master bus. Although I don't typically use fade outs, I still often fade the last sustained notes on Master for a smoother ending. Also, I may want all guitars to come up a little a certain point, etc.
I actually send everything to a bus so I have a drum bus, vocal bus, keyboard bus, guitar buss, etc. I even have a bass bus even if there is only one bass. My reason is that I get all the movements automated in the tracks, and then I can change overall levels in the bus without messing up all my mixing work.
Note that when you click the filer and choose Automation in the track, there is a choice for Volume. For some reason, although the bus automation works the same way, the choice is Bus Output Volume. I'm nor sure why there is a difference in terminology but perhaps that is confusing.