There are a huge range of kids between toddlers and teenagers, and a huge range of variation in levels of responsibility between different children of the same age. Some kids are totally trustworthy when it comes to roaming but at the same time completely flaky when it comes to keeping track of expensive personal belongings.

And, needless to say, if you conscientiously avoid location tracking on the device then you can't use tracking to find it when it's inevitably misplaced.