Binance (BNB) co-founder Changpeng "CZ" Zhao delivered some sobering estate planning advice to cryptocurrency holders on Wednesday: Make sure your kids can actually get to your coins if the worst happens.

Planning For The Unthinkable

In a post on X, CZ urged users not to leave their cryptocurrency trapped on addresses their children and heirs could never access. "Also important for 'worst case' scenarios. Don't let your crypto get stuck on some address that your kids can never access," the former Binance CEO wrote. "Protect your kids."

The timing wasn't random. CZ's comments came right after Binance launched Binance Junior, a cryptocurrency savings account designed for young users between 6 and 17 years old. The account operates as a parent-controlled sub-account with complete parental oversight.

How Binance Junior Works

Here's the setup: Parents who are existing Binance users can create junior accounts for their kids, maintaining full control with the ability to disable or delete those accounts at any time. Parents can transfer funds directly from their master account into the junior account, creating a controlled environment for young users to learn about cryptocurrency.

The Billion-Dollar Inheritance Problem

CZ has been vocal about the need for cryptocurrency exchanges to build inheritance features that ensure proper asset distribution when users die unexpectedly. It's not a theoretical problem. Crypto-Fearless, a widely followed cryptocurrency influencer, estimated in April that centralized exchanges "inherited" over $10 billion in cryptocurrency every year from users who died without proper succession planning.

That's billions in digital assets potentially lost forever, or at minimum, tied up in legal limbo while families try to prove ownership and access accounts their loved ones left behind.

In other Binance news, the exchange recently announced co-founder Yi He as co-CEO, sharing leadership duties with Richard Teng, who has held the CEO position since November 2023.

Worth noting: Binance doesn't operate in the U.S. due to regulatory constraints. American residents use Binance.US, a separate, legally compliant platform.