After you have crashed your car, you might experience a loss of earning capacity. Because of your injuries, you may be unable to work and you might be entitled to compensation for your lost wages. However, it can sometimes be difficult to calculate how much you may be entitled to.
Current Lost Wages vs. Future Lost Wages
After an accident, you might be completely disabled and unable to work. Or, you might be partially disabled and you may only be able to work at a reduced capacity. It is much easier to calculate how much you should be entitled to current lost wages because you can simply show your paystub. However, future lost wages can be more complicated to calculate.
Even if you are not able to work in the same profession that you were working in, that doesn't mean that you will be fully entitled to compensation for lost future wages unless you can prove that you won't be able to transition into another line of work.
How to Determine Your Projected Future Earnings
The defendant will investigate your level of education, experience, skills, and other credentials to determine if you will be able to transition into a different line of work. Your potential future earnings and the impact that the accident had on these earnings can be very complicated. However, if there is a difference between how much you would have earned and how much you will earn now and you are able to prove it, you will be entitled to compensation for this difference.
For example, you may be able to enter into a different line of work but the overall increase in your income might be projected to be lower than it would be if you had remained in your original line of work. You may be forced to retire earlier in your newer line of work. Any expected loss in income should be covered by the defendant.
The Battle with the Auto Insurance Provider
Your auto accident case will most likely begin with you and your lawyer gathering the evidence necessary to build a solid case. This is so that you can more easily negotiate a settlement. However, the insurance provider will do everything they can to minimize the compensation that you will receive for your injuries. Therefore, you may need help from an expert witness who will build a solid case for why you deserve compensation for your lost future earnings. For more details, contact someone like Franklin L. Jones, Jr. in your area.
Hello, I'm Christina Miller. Have you ever been fascinated with why the law works the way it does? Ever since I was in junior high, I had an intense interest in anything related to our legal system, whether it be a crime drama on television, a judge show or a legal case covered on the news. I followed it all. As time progressed, I began learning about how the actual legal system worked and not just the fictionalized version of our legal system. This has lead me to start writing my own blog posts about law that I hope will help others.