As a certified old fart I've thought about this once or twice. Just yesterday, I found a bunch of negatives and prints from a photography course that I took in college (50 years ago) and had sunk to the bottom of a closet. I was looking at the negs on a light box last night and have decided to scan/print some (darkroom went a while back, along with my lower back). Because of the nature of the project assignments for the course, there are pictures that were shot all over the campus, at frat parties and of the ex-girlfriends/wives of friends. There's even a set of portraits that someone else shot of me. The thought crossed my mind that maybe the school would like some of them for their archives, but my wife thinks that I'd have to donate a building to get them to take the pictures.
As far as the rest of my art/legacy goes, I'm lucky in that one of my children is into photography (including a BFA/MFA) and we work with/help each other; I expect that she would take the archive. My son has some of my work hanging in his house and, at least two of the grandkids appear to be interested in art/photography. Maybe my works will avoid the dumpster for a generation or two.