Actuall the title is just that .
In game you will get and mail giving you the title . When you finish the class quest you get new titles you can put in front of your name .
Don't worry about it . You should think more about the names you will be using for your avatars .
You will not be able to change the name unless you make a new character . Your 40 , you spent several weeks doing all the quest, then you look are you name and it look's lame . You get a major surprise .
Also one more thing , depending on your game experience , try to get into a guild . The bigger the guild the more help you will get when playing . Small guilds tend to be hard core .