How Is Future Lost Income Assessed in a Personal Injury Claim?
If you were injured because of someone else’s negligence, you may be able to pursue compensation for damages you suffered, including past, current and future expenses. Your lost income may be a significant portion of your damage claim, but it can be difficult to calculate how much this may be worth.
A Sacramento personal injury attorney from the Arnold Law Firm can explain these types of damages. Schedule a free legal consultation to learn more about how we may be able to assist you with an injury claim.
Lost Wages vs. Future Lost Income
Lost wage compensation may apply if you missed time from work to receive medical treatment or to recover. Likewise, if you had to use your sick days or vacation leave because of your injury, you may be able to receive compensation.
Future lost income compensation is for the difference between your expected earning capacity before the accident and what it may be after the accident. If the accident is severe, injuries may cause permanent disability that results in being unable to work at all. In other situations, injury victims may be able to work, but they may need to work in a different position or field and may receive less pay than before.
How Are Calculations Determined?
It can be very difficult to calculate the value of future lost wages. Attorneys often hire economic or vocational experts to help them determine the long-term financial impact of an injury. Some of the factors that may be considered include:
- Work history
- Current rate of pay
- Current profession
- Your industry
- Current market values and rates of wages
- Location
- Your education
- History of your promotions, raises and job changes
- Your marketable skills
- Transferability of your job skills
Evidence to Review
Evidence that can help your attorney establish the value of your future lost income may include:
- Medical records – Your medical records can detail what types of medical treatment you received, the side effects of medication, and your need for ongoing care. Additionally, your medical records can indicate your current abilities and limitations and how they may impact your potential income.
- Employment records – Your current employment contract, salary, benefits, and history of raises and reviews can help your lawyer determine your future projected income.
- Lost business opportunities – If you are self-employed or a portion of your income depended on commissions, the value of lost business opportunities can also be considered.
- Analysis of your employment history – An expert can consider your current work duties and skills.
Contact the Arnold Law Firm to Discuss Your Claim
If you have a valid claim, we are prepared to work closely with you to determine your projected losses and fight to recover maximum compensation on your behalf.
Contact us today at (916) 777-7777 or fill out our free online form to discuss your case with a knowledgeable injury lawyer who can evaluate the potential value of your claim.