How Does Your Dallas, GA Car Wreck Lawyer Prove Lost Future Income?

lost future income in a car accident lawsuit.

With most cases our Dallas, GA car accident lawyers handle, our clients suffer minor injuries that will heal over time. However, there are times when a client’s injuries are so serious that their lives are changed forever. Among other damages, they will experience lost future income, being unable to support their families as they did before the accident.

The question is – what do you do when your injuries prevent you from doing the same kind of work you did before the accident?

Your Damages Will Depend on the Nature and Extent of Your Injuries

As with any other personal injury case, your damages will depend on the nature and extent of your injuries. For example, your Dallas, Georgia car accident attorney will demand that you be reimbursed for any medical bills you paid out-of-pocket.

The more serious your injuries, the higher your medical bills will be. The same is true for pain and suffering. If you experienced a great deal of mental and physical anguish, you’ll be entitled to a significant amount of pain and suffering damages.

You’ll Only Receive Compensation for Injuries Your Dallas, GA Car Accident Attorney Can Prove

The difficult thing about your car accident case is proving your damages. As long as your accident lawyer in Dallas, Georgia can prove that the other driver was negligent, you will receive damages. The question is how much you’ll be entitled to.

Your attorney will need a chance to thoroughly review your medical records. Once they do this, they’ll have a much better idea of how serious your injuries were. They’ll also know whether you’ll be able to do the same kind of work you did before the car crash.

If you can’t resume your career, you may end up earning a lot less than you used to.

Did Your Car Accident Leave You Partially or Totally Disabled?

Some motor vehicle accidents are so serious that our clients are left partially or totally disabled. If you suffer a spinal cord injury, you probably won’t be able to do any physical work. The same is true if you experience a severe neck or back injury.

Depending on what you did before the accident, you may not be able to work at all. Or you may have to find a new job that doesn’t put such a demand on your body. Even if you’re still young, this could very well mean you’re going to earn a lot less than you did before the crash.

The defendant should be held accountable for this loss in income.

Are You Able to Do the Same Work You Did Prior to Your Accident?

If you can still do the same kind of work, then you’ll only be entitled to damages for lost wages. If you missed more than a week or two from work, your car accident attorney in Dallas, Georgia can demand compensation.

If you cannot return to your job, you may be entitled to damages for lost future income. Aside from pain and suffering, these are the hardest damages to prove. Since nobody knows what the future holds, it’s difficult to prove that you would’ve earned a specific amount of money.

There’s a Good Chance Your Dallas, GA Accident Attorney Will Demand Lost Future Income as Well

In order to qualify for damages for lost future income, your car accident lawyer in Dallas, Georgia will have to prove a few things. First, they’ll need to demonstrate that you can no longer perform the tasks of your previous job.

Your Dallas, GA accident attorney may need documentation from your doctor or occupational therapist to do this. You may also need your employer to confirm that you cannot meet the demands of your job.

a car accident lawyer can estimate future economic damages.

Your lawyer must also prove that the reason you can’t do the same job is because of your accident injuries. For example, if you had been out on disability before the crash, you won’t be able to attribute your inability to perform your job to your car accident.

These Damages Will Be Equal to the Difference Between What You Used to Earn and What You’ll Earn Now

Once your Dallas, Georgia accident attorney proves that you deserve damages for lost future income, they’ll need to calculate what these damages should be. This can be more difficult than you may think.

First, your attorney will have to show what your average salary was prior to the accident. They can use your tax returns to do this. Then, they need to show how much you’ll earn now that you have to find a new career.

This can be tricky. You don’t have years’ worth of payroll records to do this. You may have to hire an actuary to do this for you.

How Does Your Dallas, Georgia Accident Attorney Calculate Your Lost Future Income?

Once you establish what the two incomes were, you will take the difference between the two. This amount will then be multiplied by the number of years you have left before retirement. For our purposes, we use 65 as the age of retirement.

Once your Dallas, GA injury lawyer comes up with this figure, they’ll need to determine the present-day value for your lost future income.

Let’s look at an example as a way of explanation. Imagine that you are 35 years old and earned $80,000 as a construction foreman prior to the accident. You broke your neck and can no longer work. You are now on disability and will only receive $40,000 per year.

The difference in your annual income will be $40,000. You are expected to work another 30 years before you retire. This comes out to be a difference of $1.2 million.

Given the fact that you would’ve been able to invest this money and earn interest, the difference is more like $1.4 million. This is the amount your Dallas, Georgia accident attorney will demand, knowing that they’ll likely settle for a lesser amount.

Your Dallas, GA Injury Lawyer Will Work Hard to Settle Your Case

Our top accident attorneys in Georgia understand that you don’t have the luxury of time. You can’t sit back and wait over a year for your case to go to trial. We’ll do our best to negotiate a fair settlement. This way, you’ll receive a lump sum of money and will be free to find a new normal after the accident.

We recommend that you contact our office so you can schedule your free, initial consultation.

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