When a loved one dies, you will face one of the most difficult times in your life. There is no way to avoid death; it is an unfortunate part of life. If the loss of your loved one will harm you financially, you might file a “wrongful death suit” against the responsible party.
Determining Economic Damages
Your first step is to speak with an attorney. An attorney will examine your situation and let you know if you have a case. Through your attorney, you will arrange for economic damages calculation services with an accountant or other financial professional. The credibility of your economic damages expert will be a major factor in the outcome of your case.
Types of Damages
There are three primary types of damages in a wrongful death suit:
Economic Damages
These are the easiest damages to calculate. This category includes the total value of all financial contributions the victim would have made if he or she would have lived a normal life span. These are some examples of economic damages:
- Medical and Funeral Expenses
- Loss of the Victim’s Wages and Benefits
- The Value of Any Other Goods and Services the Victim May Have Provided
Nonfinancial Damages
The emotional and personal damages you suffer are impossible to express completely in a financial sense. Examples of nonfinancial damages include:
- Compensation for the Pain and Suffering Caused by the Loss of Your Loved One
- Loss of the Care, Guidance, Advice and Nurturing Your Loved One Would Have Provided
- Loss of the Love, Companionship and Camaraderie of Your Loved One
Punitive damages
In cases where the defendant is guilty of particularly bad conduct, carelessness, or irresponsibility, the court may choose to award punitive damages to the plaintiff. Punitive damages are intended to punish the defendant and discourage further irresponsibility.
Making the Case
It would be reasonable to expect that the next step in your case would be going to court, but this may not be what happens. If your case goes to court, it will become public record; most organizations would rather avoid the publicity of a wrongful death lawsuit, and may agree to pay your damages.
The loss of a spouse, child or other loved one is a tragedy, and no amount of financial compensation will erase the pain you feel.
Read related articles:
- How To Handle The Financial Exploitation Of The Elderly
- Hiring Process Steps: Tips to Avoid Financial Loss
- Is Expert Witness Testimony A Real Value In Your Court Case?
___________________________________________
Veriti Consulting LLC provides economic damages expert services for both plaintiffs and defendants who are in various stages of litigation, mediation, and arbitration. If you or your business require economic damages support contact Veriti Consulting at (877) 520-1280 or send us an email to learn more about our professional expert witness services.
