Can you genuinely make a claim for earnings that you haven’t yet earned?
Imagine Usain Bolt having his leg amputated due to a car accident. His future ability to earn at the same rate he was used to will be significantly hampered.
Think of the money that could be made from competitions, advertisements, and the like. Usain would be entitled to sue someone for future lost income he might have made as an athlete.
Granted, you aren’t Usain Bolt, but a personal injury accident could significantly affect your life. Filing a personal injury claim can assist you in getting the money you need to focus on your rehabilitation.
Don’t delay—contact a personal injury lawyer Las Vegas NM as soon as possible.
Damages Payable in A Personal Injury Suit
Your car accident injury lawyer will claim several types of damages. These are economic damages, non-economic damages, and punitive damages.
Economic damages are compensation for monetary losses that can be proven using documentation, including:
- Past and future medical expenditures
- Loss of wages
- Lost future earnings
- Lost use of property
- Household services
- Lost employment or business prospects
On the other hand, non-economic damages refer to compensation for intangible, non-financial losses, including:
- Emotional anguish
- Loss of companionship
- Loss of enjoyment of life
Lastly, punitive damages, also known as exemplary damages, are financial compensation granted to punish and discourage willful, careless, or malicious behavior.
Punitive damages are not given to make up for any losses, so this heading falls into neither of the above categories. The focus is not on the injured party per se but on the actions of the person being sued.
Limits to Damages
Suppose you filed a medical malpractice claim against a doctor or practice. In that case, you may be able to recover any amount of economic damages, most of which are connected to your medical expenses, lost wages, and lost future earning capacity.
However, the total amount of non-economic damages—those that are tied to your pain and suffering—that you can receive is limited.
Damages are also capped for punitive damages and damages against state bodies. Ask your car accident attorney about what this may mean for you.
Making a Claim for Lost Wages
When claiming lost wages damages, there are many factors to consider. It entails payment for any time missed from work due to your injury and the wages you would have been able to make if you hadn’t been hurt. This could also apply to accrued vacation or sick days that you would have received and any days you had to use.
An excellent personal injury attorney won’t limit your claim to just these factors. On your behalf, we will ask that you are compensated for:
- Lost commission that you may receive from sales
- Any bonuses you were scheduled to receive
- Potential promotions jeopardized by your injury
- A loss of future income
Proving Loss of Future Earnings
You could be eligible to successfully file a claim for lost future wages due to a lowered earning capacity. Your injuries must affect your ability to find work—and your doctor must reasonably anticipate that they will be permanent—to be eligible for payment of loss of future earnings.
The calculations for loss of future earning capacity will include a variety of elements, such as the following:
- Your previous income and line of work
- The going market rate for your job
- Your projected lifespan
The court will calculate the injured party’s pre-injury earning potential and then contrast it with the injury’s diminished earning capacity. An award will be given based on the difference in potential earning power.
The idea underlying future loss of earnings awards is that the accident has significantly affected the plaintiff’s ability to earn money in the future.
Why You Need a Personal Injury Attorney
Of course, a defense lawyer will probably claim that you could have adjusted to the same job or acquired similar employment.
For instance, in the era of online education, an English teacher who shattered her arm might not have to reach up all the time to write on a chalkboard. She has proven capable of leading entire courses with Zoom, a mouse click, and no financial loss is necessary if she merely changes her focus to a different position.
Suppose it is said that your post was destined to become outdated anyway? In addition, because of inflation, the value of your salary may change.
We recommend that you engage the services of a personal injury lawyer to give you the best possible chance at success.
Time Limit for Proving Future Lost Earnings
You should schedule time for a consultation as quickly as possible with a personal injury lawyer. It may be necessary to prove loss using specialists like doctors and economists.
You may lose your ability to file a case if you miss the required statute of limitations period, regardless of the validity of your underlying claims. Therefore, following your personal injury event, you must act as quickly as possible. By doing this, you can ensure your rights are protected and receive the payment you require.
If you are worried about your capacity to provide for yourself and your family due to an accident, wheter it be a car, motorcycle, pedestrian or truck accident, speak with a persoanl injury attorney today.