One challenge many people face after a wrongful death is understanding the potential compensation in a wrongful death case. Most people are not well-informed about the considerations that contribute to a wrongful death claim award, making it difficult to determine a reasonable settlement or decide if the case is worthwhile.
There are a few things to think about when considering the financial interest in a wrongful death case.
Direct economic losses
The direct economic losses compensated in a wrongful death case include the medical expenses for the deceased as well as funeral expenses. Economic losses also include a calculation for lost wages as well as estimated future earnings lost as a result of the death. This requires an assessment of the deceased’s earnings history as well as growth potential for an accurate calculation.
Intangible factors
Intangible losses in a wrongful death case include considerations such as emotional distress, loss of companionship, and lost family support. These losses are not economic, which makes them harder to quantify. The court considers the relationship, family responsibilities and history in these calculations.
Punitive damages
Punitive damages apply to many cases where the responsible party’s blatant negligence caused the death. While some wrongful death cases may not include punitive damages, some with willful wrongdoing might.
The more you consider your wrongful death case, the easier it is to determine the potential financial award. These are the components that make up most wrongful death awards, so consider them carefully, especially if you are discussing settlement with the other party’s insurance carrier.