Wrongful death lawsuits are sometimes the only form of justice and closure available to those affected by a sudden tragedy. Surviving dependent family members can reduce the economic losses they sustain through wrongful death litigation after the unexpected, premature death of an immediate family member.
Requesting financial compensation for the lost future wages the deceased party would have provided the family is one of the biggest financial contributors to the damages sought in a wrongful death lawsuit.
Families trying to navigate this process without guidance frequently make a major mistake when calculating lost wages.
Pay rarely remains stagnant for long
Working professionals may receive performance-based raises and cost-of-living raises after years of holding the same position with a company. They may also apply for new positions that offer better wages and more prestigious job titles. With those new positions may come more comprehensive benefits packages that may add as much as 30% of the professional’s base pay to the overall value of an employment contract.
Families need to account for not just the current benefits and earning potential of the decedent at the time of their passing, but also the likely future wages and benefits they could have received if they had not died unexpectedly. Researching industry standards and then documenting credible information to ground the claim for lost wages in economic facts can be overwhelming for those already coping with intense grief.
A wrongful death attorney can help families build a credible case and pursue an appropriate amount of damages after a tragedy occurs. Securing legal guidance early in the wrongful death litigation process may limit the stress that surviving dependent family members endure and may also help them optimize their financial recovery.