After the wrongful death of a family member, damages awarded in a personal injury claim are meant to cover any losses that resulted from the family’s loss. There are many different types of losses that a family can suffer as a result of a wrongful death, from medical expenses and hospital bills, to funeral costs, loss of pension, loss of social security benefits, and much more. If you have just recently lost a loved one in a wrongful death accident, contact a personal injury lawyer as soon as possible to learn your rights to pursuing legal action against the negligent party or parties and their insurance carriers. You and your family could be entitled to certain future damages.
Continue below to review what future damages are and where to find trusted legal counsel near you.
Wrongful Death Claims
In a wrongful death case, certain family members can file a claim for compensation to cover their direct losses, such as medical bills and funeral costs. These are easily calculated because they are direct financial payments that were made as a result of wrongly losing a family member. However, many families of wrongful death victims will qualify for other types of damages, such as future damages, which can be more difficult to quantify, yet deserve compensation, nonetheless.
Future Damages and Present Value
The most common future damages awarded in wrongful death cases are loss of future wages, loss of retirement benefits, and loss of pension. These damages can be calculated, and then added to a current settlement in present value. Present value is the total amount of compensation for current and future losses, but in today’s dollar value. Fifty years ago, a dollar had more value than it does today, so the same principal applies to present value calculations. Present value estimations must take into consideration certain factors in order to develop an accurate amount of compensation, such as interest rates, tax credits, inflation, and similar economic influences.
Such legal concepts are not easily understood by anyone not in the legal profession. It is important to discuss all of your questions and concerns with an Indiana personal injury attorney who specializes in wrongful death claims. We have the knowledge, skills, and professional resources to explain your case in a language someone can easily understand. If you have a good case, we will work hard to recover the maximum settlement or verdict for your claim.
Indiana Wrongful Death Lawyers Who Will Obtain the Settlement Your Loved One Would Want You to Have
Call the Law Office of Craven, Hoover, and Blazek, P.C. at 317-881-2700 to schedule a free initial consultation with an experienced wrongful death lawyer in Indianapolis, Indiana. Seasoned lawyers, Daniel Craven, Ralph Hoover, and Keith Blazek can help you recover the full and fair compensation you deserve after losing a loved one in a wrongful accident. Call 317-881-2700 to get started today.