1. After the year is over what happens? Do you lose access to LR or just the lessons plans.
You don't lose anything - you can continue to use LR and the lesson plans forever (and ever).

After the year is over, you can choose to show other languages, or just download or purchase more content for him. Have you checked out the download library? Lots of content there, like dinosaurs whcih is often a favorite with boys at some stage.
2. Since my son is 4 months and most children start reading around 2 would I have to purchase another year of LR?
No. You can start at any time, take as long as you want, and even repeat it if you wish.
3. Can I use my points to buy LR that is on sale for Christmas special?
LR discount coupons are not available yet. We're still working on them (technical issues), but hard to say when they'll be ready. They may not be applicable with already discounted prices too - this is something we haven't finalized.
4. I hope the receive some money for Christmas when is the sale over?
You should have at least until the new year.
5. Is the price locked in if I am on the 14 day trial?
No. Price is according to the day of actual purchase.