This is a far different thing from reading with children.
It doesn't matter the age, being read to is an amazing bonding and calming thing. I'm an adult and my wife and I still read to each other sometimes if the other is feeling depressed or unsupported.
The rules are the same whether you are reading to a baby or an adult child!
Don't worry about getting the words perfect. It isn't about exactly how the story is written, it is about how the story is told. Feel free to make some of it your own words and use it to inspire all sorts of spin off stories to your children!
Make sure no matter how tired you are, that you tell the story animated! Don't just read! Do special voices, jump around, be crazy, wave your hands around to accentuate whats happening. Play act the story with your child as you tell it.
I promise you, you will not be sorry for the consistent effort if you start very early with your children and stay at it!
For speaking age children, stop and recap the story from time to time, talk about the story and moral at the end. Ask your child if they have had a moment similar to the one in the story. Talk about other times they, as a child, may run into such an incident and choice in their own life.
Make memories, be present. Absolutely make sure that you are not doing or thinking about anything else when it is story time. Story time should be special time for the whole family!