This is a easy one way trail to Hanging Lake in White River National Forest.
Starting May 1, 2019, the US Forest Service will start limiting access to 615 users per day with a fee-based reservation system as well as a shuttle service. There are only 110 parking spots in the parking lot and usually fills up by 7:30am during peak visitation months (Friday-Monday).
You can access the parking lot / trailhead one of two ways:
From Glenwood Springs, take the bike/pedestrian path east.
The only access is on Eastbound I-70 via the "Hanging Lake" Exit 125.
When you depart, you can only go Westbound on I-70. Approximately 4 miles, you can take the "Grizzly Creek Rest Area" Exit 121 in order to loop back around to continue east on I-70.
Toward the end of the hike, there are very steep step-ups on the slippery rocks with a handrail - no fence to keep your children from getting rowdy and falling off the trail. If your kid can't stay on trail or has balance issues you really should not bring them.