Parents do not really talk about financials with their kids, especially in India. I remember when I asked the same to my parents, I was asked to mind my own business i.e. study. Now once I started working at that time they started revealing everything to me. The fun fact is my mom also does not know anything about the money we had, though obviously, we do not have much.
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I think it's better to know your parent's net worth and know where exactly everything is kept so that nothing is lost when they pass away (we all want our parents to stay with us forever, but life has a hard stop which no one can deny). The problem is, here in India Rs 82,000 Crores are lying unclaimed in bank accounts, FDs, mutual funds and life insurance. This money is waiting to be claimed but nobody knows they belong to them. The heirs do not know because it was not shared with them.
Also, you as a parent should talk to your dependents about everything you have, and keep a copy of that with them so that when you are not with them, they will have all the documents with them to claim what is theirs after your absence. This is where the will can also come in handy. A will can be created by anyone and can specify what you want to give to whom. But the best part of the will is that you write down everything you have in that will so that there is one source of truth and you can keep it somewhere where it is accessible to every family member after your absence.
For crypto, we keep all the crypto information either in the hard drive or have something secure but that is no access to our dependents, so it's better for them to have a copy of your keys so that they can get the money after your absence. Just check here on Hive there are so many dormant accounts left untouched either by forgetting that they have it or by losing the keys or the person who has the account unfortunately is not there anymore. Whatever the case having an accessible location for the keys is so very important.
