Calculating lost wages in a wrongful death scenario

The unexpected death of a loved one can result in many consequences. Grief can be particularly difficult to handle when a passing was sudden. People may have left things unsaid or may have parted ways unfavorably the last time they saw each other. Additionally, families experience a sudden disruption in day-to-day life that can prove financially destabilizing.

The sudden loss of income and support around the home provided by the deceased individual can be a major setback. Wrongful death lawsuits are a way for families to recover the losses generated when someone dies unexpectedly. Plaintiffs typically have to request a specific amount of compensation based on the actual losses the family incurred due to the loss of the deceased individual. Lost wages and earning potential often contribute substantially to the total value of a wrongful death lawsuit.

How can families calculate what a loved one’s future wages may have been?

By looking at the totality of a career

Simply calculating annual wages and then multiplying that by the years left until retirement doesn’t provide a realistic view of what someone could have earned. Many professionals hit their peak earning potential in the last decades of their careers. They may qualify for advancement opportunities that significantly increase their wages and improve their benefits.

Families may have to consider how ambitious their loved one was and what upward mobility they may have pursued at their job. Even those who may have remained in the same position indefinitely may have received occasional cost-of-living wage increases to align their income with inflation.

Families also need to consider the economic value of work benefits. Paid leave, health insurance and other common workplace benefits can substantially add to the total value of an employment arrangement for the worker.

Accurately estimating a lifetime of lost income is a challenging prospect for those still experiencing grief. Still, it is important to accurately estimate how much the decedent may have earned if they survived. Those who request an appropriate amount of compensation can seek to hold the right party accountable for the impact of a tragic situation on a family.

Having assistance when preparing a wrongful death lawsuit allows families to focus on themselves while someone else handles the paperwork. Civil lawsuits can give families closure and may create consequences for the business or individual ultimately responsible for a family tragedy.