Raising and watching over them will consume all your time, unless you keep adventuring and leave the kid with his/her mom,
... which (as a couple of posters mentioned above and were totally ignored) wouldn't even be possible if the player's character
is the kid's mom. A feature like this makes absolutely no sense in a game where players' characters can be women.
Romance, yes. Kids running round in safe areas in the game, yes. The player character fathering/bearing and raising kids? I don't think so.
[edit]
To clarify, this makes no sense
in a free-form violent action/adventure game where players' characters can be women. In a linear, story driven game which can have jumps in time written into the story it might make sense, but not in a game like Skyrim.