Do you open presents on Christmas Eve? Have spaghetti dinner on the first day of school? Family game night every Friday evening? Traditions from their childhood are great things to pass down to your children. Memories are often just as treasured as possessions, and well-worn family stories are prominent at family gatherings. Most likely, funny stuff your mother, aunt or grandmother said or did as children has become part of your family's oral history. If you've kept this going with your own children, you've given them a gift that's more valuable than a diamond ring or hope chest.
In addition to stories, hobbies that you share with your family are also revered. Do you have a passion for gardening? Share it with your children. Then, as adults, they will think of you and feel connected to you when they garden. The items you use during your traditions also make wonderful heirlooms -- the tablecloth your grandmother used for Thanksgiving dinner or the menorah your mother lit during Hanukkah.