Family sharing with multiple apple ids

Just a question about family sharing. My husband and I have decided to have separate apple ids but family sharing allows us to share purchases but does this also include iCloud storage or do we each have 5GB. Also if we do this route with our son what happens to his purchases we've approved when he decides he doesn't want to be on family sharing when he's 18.

Hi Nat8506,
Happy Holidays!  I've included complete information for Family Sharing below, but to answer your specific questions:
Each Apple ID has it's own 5 GB of iCloud Storage
Once you son turns 18, if he decides to leave the Family Sharing, any purchases made with his Apple ID will remain his and no longer available to the family.
Family Sharing - Apple Support
http://support.apple.com/en-us/HT201060
Leave Family Sharing - Apple Support
http://support.apple.com/en-us/HT201081
What happens to your content when you stop sharing?
When you leave Family Sharing, your Apple ID is removed from the family group, and you stop sharing music, movies, TV shows, books, and apps with any remaining family members. In addition, any photos, calendars, and reminders shared by the family group will be removed from your devices. If you chose to share your location, you'll stop sharing your location with other family members, and your devices will be removed from the family Find My iPhone device list.
Any content that your family shared with you isn't automatically removed from your device. You can purchase it again or remove it to free up space on your device. If you downloaded an app from a family member’s purchase history and made In-App Purchases, you'll need to purchase the app yourself to access your In-App Purchases.
Any DRM-protected music, movies, TV shows, books, or apps that you previously downloaded from other family member's collections will no longer be usable, and other family members won't be able to use content downloaded from your collection. Learn more about Digital Rights Management (DRM) in iTunes for Mac or iTunes for Windows.
You'll keep any purchases you initiated while part of the family group. However, if the organizer was paying for your iCloud storage or any other ongoing subscriptions, you'll need to start paying for them yourself using a valid payment method on your account. Learn how to add a credit or debit card to your iTunes Store account. 
Cheers,
Judy

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