Using eth ENS to store wealth for godchildren

Recently was blessed to made godparent to two children. I am wanting to set them up their own .eth addresses using the ENS that I can deposit ETH into annually, and they will eventually have custody of. I'm wondering about the best way to do it. Some things be cool to know:
1. can multiple .eth addresses on the ENS network be setup using the same private key? I am wondering if I can create myname.eth + godchild1.eth + godchild2.eth somehow using the same key?
2. at some point either the parents or the godchildren will be ready to have full custody of the wallets. Is it possible to transfer ownership of the godchild1.eth + godchild2.eth domains to them somehow, even if they were created using my initial private key above?

1. I will soon setup a Loopring wallet when I understand it better. It seems you can setup an .eth domain using that. ANyone know if I can also create other domains on there too? (eg godchild1.eth + godchild2.eth)

Any other pointers or things to think about would be apprecaited to hear!