Setting up Child's email

I have a hotmail account myself and last year set up 3 hotmail accounts for my school aged children listing my account to receive updates. I have 2 questions: when they send an email from their account it comes across with my name on it, even though their name is listed on the account - how do I change that?

Second and more important - is there a way to have my hotmail email account receive a copy of what ever emails they send or receive for security purposes? They are young and although they only email each other and family and friends I would like a copy without having to log into each account daily.

Thanks
 
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