If you've done well doing what you are doing, then I'd leave it alone. But, here is the alternative. One of you would need to create a new Apple ID.
See See How to create a new Apple ID https://support.apple.com/en-us/HT204316. See the data implications below.
Some of these things should be done even though not changing Apple ID: What to do after you change your Apple ID or password https://support.apple.com/en-us/HT204071
Keep in mind that some things available under a first Apple ID will not be available under a new Apple ID. For example, you won’t be able to transfer anything purchased from the App and iTunes Stores to the new ID. And, there are other issues to be addressed.
And see what Eric Root says on this matter here https://discussions.apple.com/thread/251343949 and
what Winston Churchill says about it here: https://discussions.apple.com/thread/7452747
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As you mention, you also can set up family sharing between the IDs to share purchases made with them on different devices. See:
Family Sharing https://support.apple.com/en-us/HT201060
Set up Family Sharing https://support.apple.com/en-us/HT201088