Should I put my only daughter on my car title?

You may be considering putting her name on the title of your car because you think it will help ensure that the car would quickly pass to her if you were to die.

However, many states have simplified the process for the changing of title to a car after the owner has passed away, taking away the necessity of adding someone as a co-owner while you are alive.

There is a downside of adding your daughter as a co-owner of your car, too. Your automobile insurance premiums may rise if she is added as a co-owner (depending on her age and driving record) plus you are making yourself potentially liable for any damages or accident she causes while she drives the car.

Check with your insurance agent as to the effects on your automobile insurance by adding her to the title and also ask him or her about the laws in your particular state in regard to inheriting an automobile. You may well find that the best course of action is the easiest of all -- just leave things as they are.