Advice:
Do not concern yourself with the puppy and children being friends at this early stage. That is for years down the line. Better at this stage they coexist without pissing each other off, this ruining the chance of a friendship when they are older.
That means each getting plenty of space away from each other and not being allowed (or pushed) to interact.
Be prepared for the puppy to take up several hours a day. They just do. Especially when done right with training going on alongside husbandry. That may mean your children have to give up some of your time and focus for a few months (up to two years really, though it will settle over that time) so look at ways to make that work, such as outside help with them.
Decide now what the dog rules are going to be and share them. Maybe even write them down. Everyone needs to follow them. Eg dogs on sofas or not. Feeing from the table or not. Start as you mean to go on.
Puppies need stimulation and sleep in good proportions. Bad behaviour is almost always a deficient of one or a surplus of the other. So if you see bad behaviour first think about what levels of each your puppy is getting and adjust accordingly.
Puppies chew everything. So start right now with enforcing tidiness from your children. If they leave toys are shoes at puppy height, they will get chewed and it won't be the dogs fault.
Don't leave the puppy alone too long and not really at all in the first few months.
Don't expect too much too soon. If you have confident, well adjusted, well behaved dog by about 2-3 years old, you will have done well.