Yes, and it's quite easy. You just have to open your account (either by logging in new or clicking on "My Account" on the upper right side of your screen, right between "Save" and "Logout"). On your account, all of the family trees you have created are listed, and next to each tree are the options "Remove" and "Rename". If you click on "Rename", you can choose the family's title that is deplayed when sharing/working on the family tree.
Hope this helps!