During wrongful death lawsuits, survivors grieving a tragedy ask the courts to hold another party accountable for the loss they have suffered. They present evidence of either illegal behavior or negligence to show that a person or business caused a preventable death.
Wrongful death lawsuits may result in the courts declaring that one party is at fault for the situation. The courts may also award damages to the plaintiffs. Those seeking compensation through a wrongful death lawsuit can ask the courts to award them provable economic losses, including medical expenses and funeral costs. They can also request compensation for the lost future income of the deceased person at issue.
How much could the decedent have earned?
Claims for lost wages can involve decades of future earning potential. Families often struggle to estimate the future earning potential of a now-deceased professional. They may oversimplify the process and use the salary the person earned at the time of their death to calculate what they could have earned before retiring in their 60s.
However, wages rarely remain stagnant. Raises, cost-of-living wage adjustments and promotions can all significantly increase what a professional earns. Additionally, employment benefits also increase the value of a worker’s compensation package, often by roughly 30% of their base salary. It can be difficult to estimate what a person may have earned if they have survived and pursued their career as they intended.
Working with a legal professional often makes it possible to seek financial justice after the tragic passing of a loved one. A wrongful death attorney can help family members review industry-specific wage information and accurately estimate lost income accordingly.