Grandfathering applies to you and your firearms. Grandfathering, insofar as C71 is concerned, has nothing to do with your children. If they aren’t the currently registered owner or holder of a prohib license, then those firearms are like dust in the wind, they don’t keep getting passed along to subsequent generations.
Under the current rules this is correct. C-71 isn't what worries me, it's whatever prohibitions they come up with afterwards. New prohibitions will have to come with new rules, which could also include clauses similar to this:
If the deceased individual had prohibited privileges on his or her licence, prohibited firearms in the estate can be transferred to certain family members even if they do not have grandfathered privileges, providing:
- the prohibited firearm is a grandfathered handgun described in subsection 12(6.1) of the Firearms Act, with a barrel equal to or less than 105 mm in length or designed or adapted to discharge .25 or .32 caliber cartridges; and
- the prohibited handgun was manufactured before 1946; and
- the individual is the spouse, common-law partner, brother, sister, child or grandchild of the deceased registered owner; and
- the handgun is used for a permitted purpose such as target shooting or as part of a collection.
This is what they did for handguns then. We'll see what the do for other firearms they fancy prohibiting.