Death of family members is always painful and devastating and if the death is of the earning source of the family, then the pain is beyond reach. Well, the death of the person who is the earning source of the family will definitely cause the loss of current and future income. This whole aspect is known as loss of earning capacity.
Taking the step ahead for future instances it is really important to calculate the loss of earning capacity in a wrongful death case. As in a wrongful death claim, the court will look into the matter and gather the information on the victim’s ability to earn and how their death affected the other members who were dependent on the victim for their livelihood. Of course, you need to hire a personal injury attorney Alexandria or wrongful death attorney Alexandria in order to take your claim forward. Well, in the wrongful death case one of the most drastic yet important losses is of future income.
Unlike any other damages in this, it is important to know the earning capacity of the victim. Let’s understand how to calculate the loss of earning capacity in a wrongful death case?
In a wrongful death, loss of earning capacity is calculated through the court with the help of the expert witness who reviews the work history of the victim. It is the duty of the plaintiff to prove the impairment of the income source and future financial losses.
Need to submit the documents such as tax returns, paychecks, official appraisals, and more.
Calculating the loss of earning capacity involves the following factors analyzed through experts.
- The profession of the victim
- Location of the victim
- Victim’s ability to earn, its skills and talent
- Education and the work history of the victim
- The current market rate and value of the wages
- The work history of the victim
- Past promotions, appraisals, raises, and improvement of the victim.
- Other factors such as the victim’s health, life expectancy, and more.
- In fact, in some special cases or concerns, an accountant may be hired to be the witness expert to circumscribe the loss of earning capacity. As the accountant has the ability to review the loss and profit perished in case if the victim is self-employed.
How does a lawyer help in this situation?
In such cases, there may be chances to be neglected and this can change the life of the dependants forever. An eligible personal injury attorney in Alexandria can turn out to be really helpful in order to represent all the documents in front of the court.
It is true that the pain of missing your loved ones cannot be reduced by anything. Yet a wrongful death claim helps you to cope up with your financial crises. The situation may show you a really hard time but proper guidance and your efforts can help you to get through the situation. I know the time is though and so are you, this too shall pass. I wish you all the luck that prevails!
At Chris J. Roy, Jr. APLC. Our legal expert is considered one of the best personal injury attorney in Alexandria. His primary focus area is Personal Injury Law including Car Accident, Premises Liability, and Medical Malpractice. Our lawyer is highly passionate about his cases and understands clients requirements with patience to come up with the most apt solution to embark on their journey to another chapter in their life.