Well, Binance founder CZ has suggested a function to be used in binance where one can set up a will and put in a contact to which the coins will be given to after you have passed. Either the coins will be passed to your trusted person if the account is inactive for a specific amount of time or your family can submit a death certificate. This sounds to me a fool proof function. Could there be downsides to this function?
Bitcoin has nlock function that can be used for inheritance. There is another way that is easily for inheritance, create a non custodial wallet and pass its backup information to your lovers. It is safer than storing your bitcoin on Binance and hope that Binance exchange will not die and your loved ones will be able to claim your bitcoin after your death.
Binance exchange can die even before your death.
Reminder: Do not keep your money in online accounts.https://www.cryptowisser.com/exchange-graveyard/