A good child is the most precious treasure that a Muslim father may leave behind. He is useful to his parents; both during their lives and after their death. The Prophet (saw) said:
When a man dies, his actions cease, except for three: recurring charity, beneficial knowledge, or a pious son, who prays for him (the deceased).
Moreover, good, pious offspring will be gathered together with their ancestors in Paradise, as Allah says:
... And those who believe and whose families follow them in Faith; to them shall We join their families: nor shall We deprive them (of the fruit) of aught of their works.
The book How to Bring up Your Children Islamically
gives tips and injunctions on implementing certain key Islamic duties in raising your children. Includes naming your child, aqeeqah, education (tarbiyya), and more.