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Will Ferguson & Associates

How Personal Injury Lawsuits Account for Your Loss of Income

By Will Ferguson on April 13, 2017

A statute of JusticeThe lawyers of Will Ferguson & Associates know that injury victims face numerous challenges when they seek justice. That's why our Albuquerque personal injury law firm stands by our clients during each phase of the litigation process. Our guidance and counsel can help you hold negligent people or parties accountable.

Major injuries can potentially lead to changes in your livelihood. With this in mind, let's consider how personal injury lawyers can help you seek damages for lost wages and the loss of future earnings in your career.

Serious Injuries Can Have Major Consequences

If you are involved in a major accident or sustain a serious injury, the changes to your life and livelihood can be immense. Severe spinal cord injuries can lead to partial or total paralysis. Head trauma can lead to issues with memory, mood, and cognition. Severe bodily injuries can also lead to nerve damage, the loss of a limb or multiple limbs, and other problems that affect your overall ability to get around.

These can all be life-changing tragedies. They may also be career-altering or career-ending tragedies. That's why it's important to hold negligent parties accountable and seek damages to address the major changes to your life.

Lost Income from Your Current Job

Some people are able to return to work after a serious injury, but only after a prolonged recovery period. In these cases, they may lose a substantial amount of income from their job that they would have otherwise earned had it not been for the accident or injury. With medical expenses mounting and other bills to pay, this loss of current income can have a major impact on one's life.

Lost Future Earnings Because of Career Impact

In some cases, you may have a lasting injury that affects your ability to do your current job and continue in your career. Paraplegia and quadriplegia can both lead to this given major impact on mobility. The same is true of the loss of a limb or the loss of the use of a limb.

If you are unable to work after an accident, you may be deprived of a great deal of future income, often in an amount that far exceeds disability insurance benefits. Some people may be able to start again in a new career, but they'll be starting at square one, and may require an investment for education and training.

How Compensatory Damages Work

Compensatory damages are damages that seek to cover the material losses a person has experienced as a result of their injury. This could include compensation for medical expenses, damage to property, and even lost wages or future income.

In addition to compensatory damages, it's possible to seek punitive damages in order to punish negligent parties for their actions.

Calculating Lost Wages and Future Earnings

Calculating lost wages and future income is somewhat straightforward. Pay stubs and income documents may be analyzed to assess current earnings, with estimates made with regard to future income based on average wages for those of commensurate skill. This can be added to the total amount of compensatory damages that are sought in an injury case.

Learn More About Damages in Personal Injury Cases

For more information about your legal options following a serious injury accident, be sure to contact our team of experienced personal injury attorneys today. We will work closely with you to ensure you receive sound legal counsel.

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