I've been backpacking since I was a Cub Scout, and now my son's going to age out of Boy Scouts before long. Absolutely loved it as a kid, and now have been fortunate enough to share the outdoors with my boy, (and the 25 others I have on loan for weekends). There have been some great gear suggestions already, so I'll offer some other thoughts.
You mention that you and your brother are just getting into backpacking. My first suggestion: if you have any friends that are more experienced, see if you can tag along with them for an overnight. Good way to expand your friendship, and ease into a new skill.
Otherwise: Make sure you build your backpacking trips up over time. As your skill and experience grows, your trip planning can get more involved, but for now... Start with an overnight or weekend at most for the first one. Don't plan any aggressive hike in or out. If you've never carried anything more than a daypack, and now carry full overnight gear and split a tent and food, you might be surprised how it affects your fatigue level. Give yourself plenty of daylight on that first day out to set up your campsite, and then be able to enjoy it! After a nice hike, sitting by a fire, listening to a babbling brook in the distance, enjoying good food, telling some tall tales, playing cards, maybe a harmonica, it's a slice of heaven.
Enjoy!
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- Ron