creating new account/I Cloud question please

[phillies20]

I am concerned with this icloud business and having all my info sync to my sons phone.. I guess I should create a new itunes account for him but how do I do that? and if I do that, he will not hae acces to all our songs and apps anymore? or is there a way for this new account to still point to the one song library on our computer.. we only have one computer...

I am just concerned when we both get ios5, that we dont want eachothers photos, contacts, emails, etc syncing to our phones automatically..

thanks in advance..