Should seniors/the aged be restricted from firearm ownership?

People often cite automobile licensing, registration, and insurance as a paradigm for firearm ownership. And many people are restricted from driving as their physical reactions decline, and also when they lose cognitive skills.

There has been a spate of children being shot in the last week when they approached the home of an elderly person, who shot first without making a determination of being in danger or not.

Should these elderly lose the use of firearms?