depends on how long it had been soaked in water, and how to treat it after the flooding. but since you have kids at home, better do a thorough check up.
however, mold will not be created till a period of time.
what my friend did was - cut open the ceiling drywall downstair (lucky just right above the kitchen cabinet) and see how damp were the 4 by 4 support beams. Then place a fan heater on the open hole, and keep it warm (to dry out the 4 by 4) in that area to avoid any moisture to it.
this process being done for over a week, and leave the "hole" open for another month to check out if any mold being created, before he replace the ceiling drywall and have it painted.