So many pieces come crashing down when someone dies in a car accident. Funeral expenses, medical bills, and losing what feels priceless are compounded by wages lost. What is recoverable? Bill Coats Law answers this common question in wrongful death cases.
Lost income due to death
Lost income due to death in a wrongful death claim
After a wrongful death, a claim is typically launched to help the surviving family members recover financially after the loss of their loved one. One of the major challenges of a wrongful death claim is determining the damages the deceased’s family suffered because of their loss. One of the biggest parts of determining damages is determining lost wages or lost income.
How is lost income calculated?
Lost wages calculations can take into account a number of different factors, including:
- the deceased’s estimated earning capacity;
- if the deceased was likely to receive a raise or promotion;
- pensions and retirement plans;
- stocks and investments;
- health insurance and life insurance benefits.
Challenging aspects of a lost income claim
Sometimes it is particularly difficult to calculate lost income, particularly if the deceased person:
- had an unusual or non-traditional job;
- was self employed;
- was under employed and not meeting their full earning potential;
- was a recent college graduate or new to the workforce.
It is crucial to find an experienced personal injury to accurately and fully calculate a lost wages claim, so that no aspect is forgotten or mis-represented in the wrongful death claim.
It can be yet another devastating blow to learn that the person who killed someone you love in a car accident doesn't have a high enough policy to cover the wages your family will lose. But don't despair. There is a way to seek these damages. Click to learn more about uninsured motorist coverage in wrongful death claims.
No one wants to lose a loved one to an accident. But to lose someone because of the negligence or recklessness of another person makes the loss that much harder. Survivors often face anger and confusion in the aftermath of a wrongful death, and yet have so many decisions to make, from funeral arrangements to learning how to live without their loved ones. And making ends meet can be more pain on top of what feels insurmountable. If your loved one was killed while riding their bike, it is unfortunately not likely that the insurers from the negligent driver’s car company are going to offer compensation that fully covers your losses. Having a personal injury attorney on your side can make your financial recovery possible so that you can focus on the emotional healing. Click for more information on filing wrongful death claims from a bike accident.