One of the advantages of Amex Membership Rewards is that you can use the points to top off the Aeroplan accounts of your wife and child.

To the best of my knowledge, Membership Rewards has consistently been the best place to park any points/miles, since over the years and decades it has been the programme that has suffered the least devaluation. Points do not expire, and the earning and transfer rates have been (more or less) consistent.

In Canada, almost always the best option is an Amex earning Membership Rewards, with transfer of those points to Aeroplan for redemption on Star Alliance partner rewards.