J.,
Personally, I would wait until your daughter was a little bit older to add a pet to the house. Old enough where she could take on some responsibility taking care of the dog.
That being said, we have two German Shepherds. I grew up with them, also. They're absolutely amazing dogs. They are smart, strong, protective, loyal and loving. With all of their great qualities, there are some things you should be aware of:
1) All dogs need training. Intelligent breeds like the GSD need it even more. Puppy classes, beginner classes, intermediate and even advanced will establish a strong bond with you and your dog. It will clearly line out the pecking order in your "pack". Everyone needs to be part of the training and the rules need to be enforced by everyone. Your dog will quickly learn if your DH allows table scraps and you don't. (And table scraps are a no-no IMHO). They will learn who the weakest link is, too. Again, they are so smart.
2) They are very active. An idle Shepherd is trouble. They need daily exercise to burn off their energy. If not, they WILL find other ways to burn it off. When I was a baby, our dog ate a wall during the day. I'm not kidding. She was bored and she ate about a 3'x 3' area of drywall. Another one ate the back of a couch in a couple of hours. Exercise is just as important as the training to have a well-behaved and happy dog in your home.
3) They shed. A LOT. With 2 at home, I need to vacuum every single day. That's not an exaggeration. I finally bought a Roomba to help me. You'll think I'm lying for about the first 8 months or so, but when their mature coat comes in...you'll see. GSD's have two layers of fur. They have a longer top-coat and a shorter, dense under coat. The undercoat is what they "blow" twice a year and it's like cotton balls coming out of them. You should expect to brush your dog every couple of days or at LEAST once a week to keep up with it and keep his coat healthy. I don't have the time to do this with a 2.5 yr old and a 4 month old and I pay the price. My groomer charges $45 each dog.
4) They are protective. My older girl (Sydney 11.5 yrs old) is very attached to me and is very protective. She's fine with our family and although I never allow our son to be alone with her, she's never shown any aggression towards him and will roll on her back for a belly rub from him. BUT, she doesn't like visitors in the home. Most times, I keep her away from new guests. Our younger dog (Raven 7.5 years old) is as sweet as can be but will stand off people and bark at visitors. She relaxes once we tell her to. But you never know what type of personality your dog will develop. I would suggest getting your pup around a lot of different people to feel comfortable around strangers. And be aware of his potential.
In my opinion, Shepherds are awesome dogs and I wouldn't ever get any other breed. But, you are taking on a huge responsibility when you get one. Look, my Sydney is a 11.5 years old and going strong! As long as you are ready to make the commitment to your dog, you will have a true friend to your family.
As with a lot of things in life, you will get out of it what you put in.
Good luck and send some pictures of the puppy. ( I wish Mamasource would allow us to post pictures.) If you want some recommendations on training methods and places feel free to email me (____@____.com).
T.