Being in my mid 50's I hope I still have many years to consider this, but I have thought it over. As my children reached shooting age I taught them how to shoot and purchased youth guns for them. As they married and moved out I have given each of them a small collection; a .22 bolt action rifle, a center fire rifle (bolt or lever their choice), a matched pair of shotguns 12/20, a .22 pistol and a .40 caliber pistol. Each has added to their collection and all are avid shooters. This may not have been the best solution, but being a selfish person I wanted to watch them enjoy the firearms in my presence. I still have several family heirloom firearms that I have to decide who the next possessor will be. But my inclination for these is the oldest son of the next generation that carries the family name and is interested in firearms. That may be a grandson or a grandnephew, but that is how I received them and that is how I plan to pass them on. My remaining firearms and my tons of reloading equipment, I will leave it up to my survivors to chose, sell or keep.
PS: I also purchased each of them a small gun safe. Many young families delay this purchase because of needs in other areas. I have chosen to encourge recreational shooting, so I feel obligated to insure they are safe firearms owners.