Family is the foundation on which values are built. Moral values like respect, truthfulness, tolerance, happiness, honesty, loyalty, peace, justice, responsibility, self-restraint are instilled in the thoughts, feelings and actions of the children and they function as ethics and principles that govern their actions in the life. In the view of this fact that ethics deal with the formation and expression of character, there is no better place to begin its development than in a family i.e home. Parents are responsible for building ethics into the children and to educate themselves to be good parents. Since the family plays a major role in helping a child socialize and has great influence and bearing on the progress of the child, the most natural environment to grow mentally and spiritually from a state of selfishness to unselfishness, the school of love where children cultivate heart and build character, manners, norms etc. Therefore, in this paper I would look into the code of ethics and values of the family for their children which will stand them in good stead for the remainder of their adult lives and make them able to contribute to an orderly and peaceful society. Also I would like to throw some light on the importance of family values in Life with a particular reference from the primary sources of Islam.