When you are in the middle of a personal injury lawsuit and are waiting for your settlement check, your lawyer will be working hard on helping you receive a sufficient amount of compensation for your injuries. While you may be aware that you will be compensated for missed days at work, you should also realize that you might be able to receive compensation for the change in your potential income in the future. Here are three questions you may have about the money you could receive for a loss in future wages.
When Is This A Possibility?
If you were injured from an accident caused by another person, you may end up losing money from your job simply from missing days at work. This is very normal in personal injury cases, but there are also times when a person's injuries are so severe that he or she may never be able to work at the same job again. When this happens in an accident, the injured person can ask for compensation to cover his or her future lost wages.
For example, if you are a construction worker and will never be able to do this type of work again, you may end up losing money for the rest of your life, because you may be forced to work a job that offers less pay.
How Can You Prove It?
Before you can ask for money to compensate you for future income losses, you should be prepared to prove that the accident left you in this position. One of the best ways to prove this is through reports from your doctor. Copies of all medical bills can be beneficial too, and you can also submit copies of any documents that may show the severity of your injuries.
If you want to ask for this type of compensation, it might be wise to begin by talking to the doctor that treated you (or that is still treating you) for the injuries. Another good step to take is hiring an expert medical witness. This is a person that can review your medical history and injuries simply to verify that your injuries will be lifelong and will impact your ability to work the same job that you had before.
How Much Money Can You Get For This?
The amount of money you can receive for future lost wages will be based on several factors, which include:
- The amount of money you were making when the accident took place – The attorney will begin by examining your current income. This is the least amount of money you would have earned in the future if you had stayed with the same job.
- The potential for bonuses and future pay increases – The attorney will also add in any bonuses you would have received, as well as likely pay increases. If you had expected a big promotion in the next year or two, the attorney will also take this into consideration.
- Inflation – Inflation is used in many cases because it affects the value of a future dollar.
- The amount of money you may now be able to earn after the accident – The attorney must also factor in money you could still earn from a lower-paying job you may be forced to take.
With these factors, your attorney will calculate an amount to ask for, but the insurance company or at-fault party can negotiate with the amount your attorney requests.
Getting a fair settlement check is important if an accident left you with permanent injuries. If you would like to learn more about this, talk to a personal injury attorney today.
