each owns the car they drive. this limits liability

For instance, one of the most common misunderstandings for clients is who should own the cars they drive. For married couples the rule of thumb is for each spouse to individually own the car they drive. The reason for this is to limit liability in the event of an accident. Liability is assessed on the owner of the vehicle and the person driving at the time of the accident. If the owner and driver are one in the same liability can only be attached to that person. This shields joint assets from exposure to liability.

For most people their home is owned jointly and represents one of the largest assets a couple may own. Joint assets can also include bank accounts, investments accounts, vacation homes and collectibles.

Our cars are in the name of whoever picked up the car and did the paperwork - two in my name and one in my spouse's name. I don't see any benefit to going to the trouble to having them in both names. If one of us died, the other would have to do a little more paperwork to sell the car, but that's not really that big of a deal either (I had to do that to sell a couple of estate cars).

Any attorney will probably comment that the legal owner of a vehicle has additional liability over someone not on the title, but the insurance company is the deep pocket on any situation where that comes into play, so I'm not really sure that matters either.

We live in VA. We usually have all the car titles under my wife. Any pro/con to have both on the car title?