Whether you trade-in, sell or gift your old one, do this first. Erase all your personal data.
Here's how:
1. Plug your phone into the charger, or make sure you have enough charge to complete the process.
2. Take a moment to back-up the phone. iTunes or iCloud make this easy.
3. Go to SETTINGS > GENERAL > RESET
4. Press ERASE ALL CONTENT AND SETTINGS. Press CONFIRM.
5. (Optional) Press all the other RESETS.
6. Double-check to make sure all your data has gone to the bit-bucket in the sky.
Enjoy your new phone!