There are many factors that determine the value of Massachusetts wrongful death lawsuits.
These factors may include the amount of fault involved in the death, whether there was any pain or suffering, and the cost of any medical or funeral expenses related to the death and burial.
Relatives and beneficiaries may also receive wrongful death compensation for the loss of love or companionship, as well as loss of services such as household chores and caring for surviving children.
These damages must be proved in court and the amount of compensation will be determined by a judge or jury.
Wrongful death compensation can also include the loss of future earnings, which is an important factor for family members who relied on the financial support of the victim.
Loss of Future Earnings In Massachusetts wrongful death lawsuits, a Massachusetts wrongful death lawyer will determine the value of a claim by identifying the victim's lost earning capacity and multiplying that amount over their work life expectancy.
For example, if the deceased is a 30-year-old male postal worker and it is determined that his lost earning capacity is $35,000/year and his work life expectancy is 28 years, the potential wrongful death award the lawyer presents to the jury might be $875,000.
In some cases, however, a Massachusetts wrongful death lawyer will team up with an economist to calculate the deceased's lifetime worth.
An economist uses a sophisticated calculation that also takes into account the deceased's lost earning capacity and work life expectancy, but then goes a step further by applying a discount rate that factors out inflation and puts the award in today's dollars.
This takes the guesswork out of the jury's hands and presents them with the actual value of the wrongful death claim.
When Earnings Records Do Not Exist If the deceased was enrolled in college, looking for their first job, or was a homemaker previous to their death, they will not have a past earning record to help with any wrongful death calculations.
When past earning records do not exist, the lawyer will work to put a value on what a student or recent grad might have earned over his/her work life expectancy, or identify the jobs a homemaker performs and put an earning value on each job such as: money manager, landscaper, housekeeper, child caretaker, and so on.
The "value" of a wrongful death claim will vary greatly from person to person as each individual is unique and will have their own factors that will ultimately determine what any case is worth.
A Massachusetts wrongful death lawyer can look at all these factors with you to determine a fair amount of compensation for which to file.
These factors may include the amount of fault involved in the death, whether there was any pain or suffering, and the cost of any medical or funeral expenses related to the death and burial.
Relatives and beneficiaries may also receive wrongful death compensation for the loss of love or companionship, as well as loss of services such as household chores and caring for surviving children.
These damages must be proved in court and the amount of compensation will be determined by a judge or jury.
Wrongful death compensation can also include the loss of future earnings, which is an important factor for family members who relied on the financial support of the victim.
Loss of Future Earnings In Massachusetts wrongful death lawsuits, a Massachusetts wrongful death lawyer will determine the value of a claim by identifying the victim's lost earning capacity and multiplying that amount over their work life expectancy.
For example, if the deceased is a 30-year-old male postal worker and it is determined that his lost earning capacity is $35,000/year and his work life expectancy is 28 years, the potential wrongful death award the lawyer presents to the jury might be $875,000.
In some cases, however, a Massachusetts wrongful death lawyer will team up with an economist to calculate the deceased's lifetime worth.
An economist uses a sophisticated calculation that also takes into account the deceased's lost earning capacity and work life expectancy, but then goes a step further by applying a discount rate that factors out inflation and puts the award in today's dollars.
This takes the guesswork out of the jury's hands and presents them with the actual value of the wrongful death claim.
When Earnings Records Do Not Exist If the deceased was enrolled in college, looking for their first job, or was a homemaker previous to their death, they will not have a past earning record to help with any wrongful death calculations.
When past earning records do not exist, the lawyer will work to put a value on what a student or recent grad might have earned over his/her work life expectancy, or identify the jobs a homemaker performs and put an earning value on each job such as: money manager, landscaper, housekeeper, child caretaker, and so on.
The "value" of a wrongful death claim will vary greatly from person to person as each individual is unique and will have their own factors that will ultimately determine what any case is worth.
A Massachusetts wrongful death lawyer can look at all these factors with you to determine a fair amount of compensation for which to file.