The full name of this lens is AF-S Nikkor 50mm f/1.4G. I bought this lens for the soul purpose of photographing my daughter. When I got it my wife was 4 months pregnant and I spent 5 months playing and trying to figure out the best way to use it before the birth and I wasn't disapointed. The advantage of a lens with a low f stop (like 1.4) is that you don't require as much light to take photos at the low f stop. Also, at the low f stop it can make the background blurry which allows you to focus on the subject (for me the baby). I got lots of great photos of my daughter with this lens and it is still my go to lens whenever she is doing anything cute at home or if we want to take some "family photos". I may not post many photos to my photo blog with this lens because I don't post family photos here, but I still use this lens A LOT, probably on almost half of the photos I take! This is the best lens out there for family photos or any photos of people for that matter.
Check out how the low f-stop of the Nikon 50mm f/1.4 looks in the photos I have posted.