Make sure to pack water and some snacks to help encourage the kids along the ride. There are several beautiful viewpoints - these are great spots to take a break, get a snack (or eat lunch) and enjoy the views. Bring a mini first aid kit in case there are any falls or accidents.
Unless you are going to bike the whole 11.7 miles, consider how much the kids will be able to do. We had two different cars, so we dropped off the bikes at one point and the dads drove to our ending point and dropped off one of the cars.
During the summer, mountain towns like Leadville can be busy. If possible, do the trail between Tuesday-Thursday to avoid crowds.
We did this mini-adventure toward the end of summer and the weather was beautiful. In fall, the aspen trees and the colors are stunning.