The Deathly Hallows…explained
The story of the Deathly Hallows was told in the Tales of Beadle the Barb.
The Deathly Hallows were three powerful objects given by Death himself to the Peverell Brothers. According to the story, hundreds of years ago at twilight the three brothers – Antioch, Cadmus and Ignotus – were travelling the countryside when they came upon a turbulent river and were unable to cross. Being wizards they created a bridge over the river to enable themselves to cross. Death was angered that he had been cheated of three victims and so avenge himself to the brothers he pretended to congratulate them on being so clever. To show his appreciation he offered to give each of them anything they so desired.
Antioch being a proud and competitive man wanted to be invincible to battle and so asked for a wand that can never be defeated. Death broke a branch from a nearby tree and made the Elder Wand, a wand more powerful than any in existence.
Cadmus wished to resurrect his lost love, and so Death took a stone from the riverbed and created for him the Resurrection Stone, a stone capable of bringing the dead back to the living world.
Ignotus, the last brother was wary of the gifts, he realized the danger of the situation and requested a means by which Death could not find him. Grudgingly Death took the cloak off his back and gave him the Cloak of Invisibility, a cloak that hides its wearer and never lost its power through curses or age.
Thus, the three brothers received the Deathly Hallows.
In time the brother went their separate ways. Antioch Peverell travelled to a wizarding village where he boasted of the Elder Wand in his possession. His throat was sliced in his sleep by a wizard hoping to take the Elder Wand for himself.
Cadmus travelled back home and used the Resurrection Stone to bring back the woman he loved, but was dismayed to find that it was only a pale imitation of her: the dead did not truly belong in the living world. In the end, Cadmus committed suicide by hanging himself so he could truly join her.
Ignotus used the cloak to remain hidden from Death for a long time. When he was an old man, he passed the cloak onto his son, greeted Death as an old friend, and went with him to the next world. The cloak continued to be passed on from father to child among Ignotus’ descendants over the years. The Peverell name was lost over the years through the male descendants but it continued to be passed on through family members. Harry Potter without knowing it was in possession of one of the Deathly Hallows as early as the age of 11. He was a descendant of the Peverell family from the line of Ignotus.
The Resurrection Stone too was being passed on to descendants of the family and was lost for ages until it resurfaced in the possession of the Gaunt family. It was later made into a ring, however, neither Marvolo nor Tom Riddle (Voldemort) knew of the value of the stone and Voldemort even made it into a horcrux. This was later destroyed by Dumbledore and then passed the stone onto Harry inside the snitch as one of the objects he bequest upon his death. Harry later used the stone to talk to his parents, Sirius and Tonks and Remus before he went off to face Voldemort in the Forbidden Forest. After which he dropped the stone in the forest floor and didn’t anyone except the portrait of Dumbledore in the headmaster’s office so no one will seek to fight it.
The wand however changed hands in the most violent ways. It was passed on to from wizard to wizard almost always through murder; for whoever snatches the wand from its over becomes its new master. Gregorovich, a Bulgarian wand maker used to own the wand until it was stolen by the young Grindelwald. Voldemort fought and defeated Grindelwald and so he took possession of the wand. Later, at the Astronomy Tower he was disarmed by Draco Malfoy and so Malfoy became the master of the wand but he never really physically possessed the wand. When Harry later disarmed Draco, even though Draco had a different wand in his hand at the time, the magic in it caused it to recognise Harry as its new master. Severus kept the wand in safekeeping, and it was laid to rest with the Headmaster’s body.
It eventually stolen by Voldemort at Dumbledore’s tomb but because he was not able to attain the wand by killing or over-powering its master he could not fully utilized its powers.
The Deathly Hallows was never really in one person’s possession ever before ….until Harry.
Dumbledore was again to gain all of them but not all at the same time. Harry had them all in his possession and would have been invincible except that he chose to lose the Resurrection Stone, and broke the Elder Wand. The only one he kept was the Cloak of Invisibility which he might someday passed on to one of his children.
I’m betting it’ll be Albus Severus, the 2nd son.