I Timothy 5:17-19
Let the elders that rule well be counted worthy of double honour, especially they who labour in the word and doctrine. For the scripture saith, Thou shalt not muzzle the ox that treadeth out the corn. And, The labourer is worthy of his reward. Against an elder receive not an accusation, but before two or three witnesses. Them that sin rebuke before all, that others also may fear.
It is important that we teach our children to respect those in authority, not just for our own sake, though they need to respect their parents, but also because it encourages a respect for God. If we learn young to respect the authority we can see, then respecting God's authority as we get older because second nature. This passage tells us to make sure to give extra honour to those who rule well. If the elder is someone who has proven themselves faithful, then make sure they get the honour they deserve.
On the flip side, make sure that your children also see the consequences of not ruling well. We always want to be very careful before making an accusation against someone in authority. Not that they are never wrong but like David, we don't want to speak against the Lord's anointed and ruin their witness, especially if we are wrong. But, if we know something to be true, then handling it in an appropriate way is necessary. Our children need to know that sin is sin, even if it is someone in authority. When an elder sins, because of their public standing, they must be rebuked publicly. No sweeping under the rug because they are leaders. That is the main reason we need to be sure of what we are saying before we say it. What may start as an angry vent, can turn into something much bigger.
(Note: When we are talking of sin, the public nature is referring to those sins that affect the Body. The same standard that applies to the Body, applies to the elders. If they are living unrepentant or a lifestyle of sin, then is the time for public rebuke. A sin committed and repented of needs no more further action than if someone of no public standing had done it.)