Phoenix Wrongful Death Lawyer – Loss of Earnings
When a life has been cut unnecessarily short by the negligence of another person, surviving family members often face tremendous financial struggles in addition to insurmountable anguish and grief. In many cases, the deceased person may have been a major or primary breadwinner for the family, leaving the survivors wondering how they will ever be able to survive financially.
While this can be an extraordinarily challenging time, it is important to know that when a wrongful death occurs, the family and the estate of the deceased may have the legal right to recover monetary compensation for their losses. Even though no amount of money can ever erase your pain or bring back your loved one, monetary compensation can help ease your current financial struggles and provide for your and your family’s future.
In the state of Arizona, only certain family members are entitled to file a legal action for wrongful death, including the decedent’s surviving spouse, children and parents. The estate of the decedent may also be able to bring a wrongful death claim to collect compensation on behalf of the estate. Under Arizona law, several types of damages may be recoverable in a wrongful death claim. These damages include the costs associated with medical, funeral and burial expenses, along with the surviving family member’s pain and suffering and loss of love and affection. The parties to the action may also be able to recover compensation for the loss of earnings of the deceased. Because calculating the loss of earnings can be very challenging in these types of legal cases, it is always best to seek out the guidance of an experienced Phoenix wrongful death lawyer.
Securing Loss of Earnings Damages in a Wrongful Death Lawsuit
The attorneys at Hirsch & Lyon Accident Law have substantial experience helping family members recover the financial support they need when a loved one is needlessly killed in an accident. In a wrongful death claim, the parties to the action can seek recovery of the earnings the deceased individual would have provided to the household, had he or she not died through the negligence of others. Determining the exact amount of damages recoverable is a complex process that takes into account both the present and future loss of earnings of the decedent.
When our firm files a wrongful death lawsuit, we work closely with expert witnesses who can establish the loss of future earnings based on multiple factors, including the decedent’s age, work experience, work expectancy, job promotion and inflation. An economist can best provide our legal team with the present value of the decedent’s lost earnings, taking into account the time value of money. These calculations are exceedingly complex, so it is essential to ensure that your attorney has a close working relationship with an economist that they trust, as loss of earnings is often the largest component of damages in a wrongful death claim. It is also critical to make sure that your lawyer can recommend a competent tax professional who can provide you with the skilled advice you will need before you receive any compensation in the case. In many cases, a large settlement in a wrongful death action can impact other government benefits you may be receiving. The right legal and tax professionals can help you avoid jeopardizing these benefits
Phoenix Wrongful Death Lawyer
Determining the decedent’s loss of earnings when a wrongful death occurs is a very complicated process. The attorneys at Hirsch & Lyon Accident Law Firm have more than 60 years of combined experience handling wrongful death actions. We know how to properly develop these cases so that you and your family receive full compensation available under Arizona law. Our law firm offers free claim evaluations, and we are available to take your call 24/7/365.