Doesn’t matter if you want the editing done...you don’t own the right to do so.
If you want your kids to see it, don’t buy it. How hard is that? Read the copyright law, its the law, and you can’t break that law just because you want to...in this case....
Laws exist for a reason, you can’t just ignore them because you want to. You don’t own the right to do this, call up a copyright lawyer. Better yet, read the past cases where this kind of enterprise lost when they were sued. Its not rocket science. You don’t have the right to alter a film because you don’t own the rights to do it, nor do you have consent of the owners to do it. Its black and white. You are trying to emotionally justify what you don’t have the right to do.
I think that once you paid for the item, then you have private property rights that should supersede the copyright law as long as you are not selling it or profiting from it or presenting it as something it is not for profit or fraud.
By purchasing the product, it becomes your private property and in a free country, you should be able to alter it...break it....burn it.... It makes no sense for the copyright law to go beyond their profit motive to deny one’s freedom with one’s own private property. That idea that a person has no rights over their private property goes against everything this country is about.