As someone who has taken a step back, I have no regrets. Also, as someone in the recruiting industry, I would say that as long as you keep current on your industry, keep a good network and are savvy with branding yourself, you should be fine. I have known many people who stepped back for quality of life issues who had no problem jumping back into their upward trajectory with success, once when they were ready. No one is guaranteed a tomorrow and your kids will be young only once.
Best of luck!