I'm 60 now. I anticipate having my firearms for a while yet, until something reasonably deems that it's time to let them go.
That might be health or simple age catching up to me. Whatever.
I intend to gift most of mine to my children, based on knowing what they prefer ahead of time. Some may go to other family members/friends. At some point I'll get organized and make a list of everything and put this in writing.
All of my kids love shooting. One, however, does not want to actually own for personal reasons. So I'll probably figure out some monetary way of evening things out for her when the time comes.
What's really important to me is that they all go to people who will genuinely appreciate and care for them. For family and close friends, the firearms will be gifted. For others, they will be sold at whatever is considered "fair" between me and the buyer...with the buyer being someone that I believe will genuinely appreciate and care for them.
I intend that NOTHING go through government hands if I can help it. My state does not require private transfers/purchases in state to go through an FFL, and so they won't.
I will also divvy up the ammunition as well. Ammunition which is common to more than one firearm will be divided up equally between them. Ammunition for which I only have one firearm will all go with that firearm. I don't intend to dispose of the ammunition separately.
And here's the part that will gain me a lot of "friends" here when they read this:
If I'm selling the firearm (meaning it's not being gifted to family/friends), it's the FIREARM that I will be selling. The portioned up ammo simply comes along with it. This is because I will ONLY be selling to someone whom I will have determined will genuinely appreciate and care for the firearm. That's an important criteria for me, more so than the ammunition.