Financial expert testimony is sometimes a requirement to really prove the extent of loss that comes from a crash. Crashes certainly come with a substantial amount of property damage and medical bills. But what about the other losses? The time you lost at work? The promotion you likely missed because of the time that you spent away from the office? How about the benefits that you missed out on?
These losses can hit hard, especially if your family was reliant on your income or benefits. But, you can fight for the full value of your losses with the legal support necessary to push for that opportunity. An attorney in Atlanta that handles car accident cases can help.
What Purpose Does Financial Expert Testimony Serve?
Financial experts work in a grand variety of situations, and that makes it difficult to immediately recognize how they apply to your case. When it comes to handling financial experts as part of car accident cases, you’ll have the opportunity to have a professional review your:
- Lost wages
- Losses in pension
- Economic damages outside of lost wages
- Value of damages
- Benefits such as commission losses
Now you may have seen information about the extent of an expert witness testimony rate. Because of the nature of these cases and the extent of the damage, it’s likely that your attorney will work closely with an expert witness that has a history with their law office. If you were to go out and hire an expert witness independently, you might have to put down a costly retainer and pay hourly.
However, when working with an attorney, the attorney handling your case will go through the possible costs. They’ll also make it clear if you’ll have any outstanding fees to pay after the case.
Proving Debt and Financial Injury as Part of Your Crash
Your medical debt will likely be your biggest burden, and it may be further irritated by your lack of income. Most households depend on two incomes, and if you lose one entirely, it’s a strain that may take years to recover from. For example, if you and your significant other both bring in half of the household income and suddenly yours is gone, that might mean that only half the bills get paid, only half of the rent gets paid.
But you’ll need to prove your debt and the financial injury. To do that, you’ll need careful documentation of your medical debt, such as bills issued on behalf of your treatments and visits. Then you’ll need to show that you have not received a disability or other benefits to supplement your income while you were out of work. You may even need to prove that you’re not eligible for disability because your employer and the medical team expect you to return to work quickly.
A financial expert can help showcase the amount of income lost to the household that was your responsibility. They may also help to show that your supplemental benefits such as short-term disability insurance, if you have it, were only meant to come into play for a limited time and that you can’t live off these benefits until you’re fully healed.
Valuation of Lost Wages and Benefits
Perhaps the biggest struggle that people have is proving their lost wages or benefits. As many employers keep people on salary, it’s easy to say that you lost x amount of dollars on your paycheck. Even hourly employees can prove that they regularly work 20, 25, 35, or 40+ hours per week and easily calculate that figure.
Benefits, however, are a different issue. For example, if you make a commission on your sales, you have no idea how to begin estimating the sales you could have made. A financial expert would take your average, the industry fluctuations of the time, and more to calculate your likely losses in commission.
Find Your Expert Witnesses Through an Atlanta Car Accident Lawyer at The Weinstein Firm
At our Georgia auto collision law firm, we aim to create the strongest case possible for your crash, to result in a desirable compensation. Hopefully, we’ll be able to use experts to validate the true value of your losses, rather than settle for less than a reasonable amount based on insurance company values. We know that your injuries and losses are a huge financial toll. We understand that the financial toll of a crash is enough to keep most families down for years.
You shouldn’t have to suffer in economic turmoil because of a crash you didn’t cause. Instead, fight for the money needed to keep your family afloat and your medical bills paid during this period of recovery. The Weinstein Firm is the place to start after any crash, work with a local Atlanta car accident attorney.