Calculating a Fair Settlement for an Unjust Death
In Murphy, most wrongful death settlements start by calculating what the deceased loved one would have earned throughout their lifetime to compensate surviving family members for these lost earnings. Other factors that can impact the final damages award include the deceased’s age and health prior to their passing, as well as their habits and temperament. For example, if an older individual near retirement passed because of a workplace accident and had struggled with ill health for years, their projected employment trajectory and income would likely be lower than that of a younger person in excellent health.
If the loved one was retired at the time of their death, lost future earnings capacity may not be viable, but, in certain situations, it could still be possible. When a child is the victim, it is exceedingly difficult to calculate the lifetime earnings of a child who passed due to others’ negligence or intentional actions. There are economic models relying on the child’s natural talents, educational level as well as the educational level and occupations of the child’s parents, that can provide a viable economic model for lost earnings capacity of a child. An experienced wrongful death lawyer working with economists can sometimes design a lost earnings capacity model that will withstand court scrutiny.
In addition to the decease’s potential earnings being considered, the family should also provide evidence of personal and financial losses that accumulated due to their loved one’s passing. An experienced local attorney could help the family determine a fair settlement amount based off the economic and non-economic damages they suffered as a result of the wrongful death.