After losing a loved one suddenly to an accident, the idea of engaging in a prolonged legal battle with the party responsible for your family member’s death may feel overwhelming. It can be tempting to accept the first settlement offer you receive, but unfortunately, doing so could have grave implications for your family’s financial future.
What Could Impact the Value of an Untimely Death Settlement?
The purpose of a wrongful death settlement is never to make up completely for the value of a decedent’s life, but rather to compensate surviving family members for specific economic and non-economic losses stemming from the loss of a loved one. Accordingly, the appropriate value of a settlement can vary a great deal from case to case based on both the details of the decedent’s life, the relationship between the deceased person with the various beneficiaries and the needs of their surviving family. In general, settling a wrongful death case in Frisco could involve seeking restitution for funeral and burial costs, certain medical expenses, loss of financial support, loss of companionship and support, loss of consortium, and emotional anguish. However, different types of damages may be prioritized more in some cases over others. For example, loss of future earnings would not be as big of a factor following the loss of an elderly retiree as it would following the sudden passing of a younger individual supporting a young family. Likewise, the decedent’s physical health and even their overall temperament could impact how much compensation their surviving family should seek through a settlement. Legal counsel could offer further clarification about what to expect in an individual situation.
