Q: What is the best way to protect my self against liability if my 18 year old child gets in a car accident?
My daughter is 18 and will be starting college this Fall. I will be paying for her car financing and she lives with us. How can I protect myself? Have her finance the car and I cosign? Register car in her name? Have her on her own insurance policy? Thanks in advance!
A: A North Carolina attorney could advise best, but your question remains open for three weeks. I hope your daughter never experiences an accident. But in terms of thinking ahead to reduce exposure, it looks like you've already identified two areas that people tend to look at in mitigating risk, registration and insurance. You could speak with insurance professionals and North Carolina attorneys who deal with asset protection for a higher-level analysis, based on your assets and other factors. Good luck
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