I remember when my parents began having family scripture study. I was in first or second grade. They kept it short, each person who could read, read one verse. At that rate it took us years to read the Book of Mormon. However, the biggest benefit was that it made us comfortable reading the scriptures. I know that most of my sisters and brothers read the scriptures on their own now, and that they started when they were children. When you read aloud at home, you are not as uncomfortable when you make a mistake. It makes reading in front of a group much easier as well. In fact it made reading out loud easier in any environment.
My parents made sure that we were familiar with the stories from the scriptures in addition to our family scripture study. We learned the stories from the scripture readers and from family home evening. This made studying the scriptures much easier when I began on my own.
As you consider your family scripture study time, determine what goals you want to accomplish with your children. Then consider the best ways to accomplish that. If you want your children to learn the scripture stories, using the scripture readers, or the gospel art kit pictures is a great way to accomplish that. (This is particularly helpful for younger children). You may choose to read a verse or two directly from the scriptures to illustrate the story. If you want your children to become comfortable reading the scriptures, then you need to read from them as well. Make sure that each child has his own set of scriptures so he can follow along as you read.
You can model how to study the scriptures with your family as well. After you read ask questions about what you read. Dig deeper than the basic comprehension questions. Move on to personal application questions or ask your children to apply the knowledge to a situation that is happening today. You may find that questions come up in your discussions, teach your children how to find the answers using the topical guide and Bible Dictionary. Teach your children when and how to mark the scriptures.
If you have an emerging reader, you may consider spending time together one on one reading the scriptures. This can help increase confidence and allows you extra time to encourage this wonderful new skill. It will also foster a habit of personal scripture study.
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Improving Family Scripture Study
Teaching Scripture Stories to Young Children