Gladiator (noun): a man trained to fight against other men in an arena
Linward Edwards (noun): an attorney trained to fight against opponents in a courtroom

Get A Gladiator On Your Side

Factors to consider while estimating lost earning potential

When people get hurt in a car crash, they have the right to pursue compensation. Often, they have to negotiate with insurance companies to obtain the financial support they require. Other times, they may need to file a personal injury lawsuit against the party at fault for the incident.

Particularly in scenarios where the best solution is to litigate, people have to request a specific amount of compensation based on their actual losses. Estimating medical expenses is often straightforward, as people receive invoices from the hospital along with treatment plans that can help them estimate future costs.

Lost wages and lost earning potential can be more difficult to accurately estimate. What do people have to consider when calculating the impact injuries may have on their long-term earning potential?

The duration of their symptoms

Individuals with catastrophic injuries including limb loss, spinal cord injuries and traumatic brain injuries may have permanent symptoms. They may experience functional limitations that persist for the rest of their lives.

In such cases, people may have to account for the long- term impact their condition may have on their job performance. If the condition is likely to persist for life, then people may need to calculate the losses in income they may sustain over several decades.

The value of their benefits

Loss of employment doesn’t just deprive someone of wages. They also lose out on employment benefits. The benefits employers provide, such as paid leave and insurance, can be incredibly valuable. People may need help estimating the value of their current benefits package and considering how their benefits may have improved as they continue to develop their careers.

Lost advancement opportunities

People with catastrophic injuries may not be able to pursue the same career opportunities they may have once enjoyed. They may have to move to a lower-paid profession, or they may no longer be eligible to move up from their current role in the company.

The loss of advancement opportunities and the improved wages that could come with different positions can be important considerations when calculating the total value of lost wages. Individuals already struggling with the practical implications of major injuries may need help determining the financial impact of those injuries and exploring their options for compensation.

Calculating lost wages and future lost earning potential can be an important element of a successful personal injury lawsuit after a car wreck. Injured people can often hold the individual or business responsible for their injuries accountable for not just their lost wages but also their lost future earning potential.