I believe that the best way to preserve these items is to wrap them in acid free tissue paper, albums for the photo's. and store them somewhere away from direct sunlight, damp, moths etc.A professional conservationist would help/museums often give free advice too.
In my, personal, opinion I would keep and preserve as much as you can from this wonderful find.. I do so wish that we had "things" from our past ancestors..all ours were destroyed!!