I Co- Signed for My Son's Car. What's My Liability?

Question:

I co-signed for a car with my 34 year old son. The car registration is in my sons name the certificate of title is in both mine and his name. The car is insured in my sons name. Do I haveany Liability if this car is in a accident.
Cheektowaga, NY

Answer:

Under Illinois law and the law of most states, you are liable only for your own negligence or carelessness.  However, if you are an owner of a car, your insurance would likely cover most people who operate your car.  However, you are not personally liable unless you did something careless.