The present study aimed to examine how parents' psychological characteristics and positive beliefs about multilingualism predict children's emotional well-being in 51 multilingual families with an immigrant background. Parents were interviewed to assess their beliefs about multilingualism and completed a battery of questionnaires assessing depression, anxiety, psychological distress, parental competence, quality of life, and acculturative stress. They also completed the Strengths and Difficulties Questionnaire (SDQ), which assessed their children's socio-emotional and behavioral characteristics. The results from regression analyses showed that parents' depressive symptoms were significant concurrent predictors of children's conduct problems. In contrast, higher acculturation stress was associated with more emotional problems and better prosociality in children, although the stronger predictor for the latter variable was parents' self-efficacy. Positive beliefs about bilingualism were not related to children's well-being. The discussion highlights the importance of targeting parents' depressive traits and acculturation stress as possible risk factors for children's emotional and behavioral problems. Conversely, fostering parental self-efficacy may promote children's prosociality. [ABSTRACT FROM AUTHOR]