Family member

You should each be signed into your own accounts.

I believe that you can only be signed into one console at a time....which would mean the children would not be able to play at the same time.

The better option would be to create a separate profile for each child...that way they can also have their own acheivements etc. Would also save issues later on when they get older and may want their own account. As the parent, you can control their settings to limit what they can or can't do

As to games bought, you can game share with one other console.

I am fairly sure that info is accurate but will need someone else to confirm

That's old information and only applied to the now-retired Family Accounts.

If you have a child, you can still tie their account to yours by creating a child account (younger than 18) and then associating your account with theirs as a parental account. On Xbox 360, however, the other account will still need a separate Gold subscription.

(On Xbox One the Gold subscription can be benefited from by everyone through Home Gold.)

Hi, I hope you're doing great out there despite the issue that you're experiencing. I am an Independent advisor and I am here to help you in regards to your concern.

You can only use your account to one device at a time as well as set it as Home Xbox to one device which means that you will be needing to create their own Microsoft account as well as subscribe their account to Xbox Game Pass.

The digital games that you have purchased can be installed on every console as long as you're signed in but to play these games you need to either sign in using your account or set your account as Home Xbox on the console.

You can only set your account as Home Xbox to one device at a time and you will only have 5 switches per year. For your reference, you can check this link: https://support.xbox.com/en-US/help/hardware-ne...

I'm having issues where my kids need to be re-registered today. I'm opening a ticket with Microsoft on it as the verification process fails with an 801540FE error and everything I've read is you can't fix this without the support desk. Given your issue
came up today too, maybe something changed with Xbox Live and accounts on Xbox 360's today?