it can happen. You might be sued indirectly if your daughter cause some trouble.
You seem to worry too mcuh about your daughter, not enough about yourself. You should buy highest coverage of auto insurance, and a million dolloar umbrella policy. That should be enough to cover MOST lawsuits settlement.
If you are self employed, try set up a pension plan. Your retirement money in a pension plan or 401k can not be touched. I can help you if you are in CA.