Surely some people will lose their Bitcoin upon death, especially those who have not worked out a way of transferring their Bitcoin to heirs and people they care about. It is therefore important to work towards retirement and handing over when we get to certain stage in life.
Preparing from now on to whom the valuable assets we call Satoshi's inheritance will be transferred. This is done by telling the person the seed phrase, password, including active email associated with access to the wallet.
If the assets you currently own are not just Bitcoin which is partly located on an exchange, provide your email and password so they can access it someday.
Why prepare from now on, because at our age we don't know when we will reach our final rest.
For those who are married and have children, entrust it to your wife and explain what and for whom the assets will be used in the contents of the letter so that you are calm and don't regret it.
It is not advisable to save ones asset in centralized exchanges because of the risk of hack like the case of Mt.Gox and many others or the owners of the exchange stealing your funds like the case of FTX. The recommend practice is to save your asset in a wallet you control the seed phrase. Many people who made the mistake of leaving their coins in exchange have various stories to tell so it is not wise to continue making the same mistake that people made in the past.
There are many safe ways to go about this including using hardware wallet or software wallets such as Electrum wallet. This link can help you with how to set up Wallet with single or mutltisignature:
https://bitcointalk.org/index.php?topic=5469290.msg62949141#msg62949141Finally don't forget the popular statement
not your keys, not your coins. This is a reminder that anywhere you safe your asset in that you do not have the seed phrase is not safe.