I just attempted this hike this past May long weekend on a four day backpack. I would say do not try to go to lake of the falls until later in the season! We hiked about half of the day from the fork between lake of the falls and landslide, and we encountered a couple feet of snow covering a deep Creek that will go over and into your boots. We tried to go up and around the side of the mountain instead of near the water but that ended up leaving us much too high and very late in the day. we ended up turning back and making camp near the fork. Take caution on the trail this early and don't take unnecessary risks.
Go to landslide instead! it's a much nicer, shorter and better marked path.