Domestic violence was a part of my family's life for years. When I made the decision to leave with my children, I had to rely on the law to provide the protection we needed. Sometimes, the system does not work as fast as we want. I soon learned that going at it alone without any guidance caused significant delays. I created this blog to help others who are seeking legal means to deal with an abusive ex. By making the right moves, it is possible to get the necessary protections in place so that you can also live a happier and healthier life.
A significant part of any slip-and-fall injury claim is going to be your lost income—including estimated future losses. Figuring out future income losses can get complicated for a number of reasons, especially for those who occupy professional positions. Even a short-term injury can cause long-term problems for your career. Here's what you should know.
It's About The Lost Potential, Not Actual Income
Future lost income isn't calculated based on the work that you've done in the past. Instead, it's the difference between the potential future income that you could have had, prior to your injury, and the future income that you are now likely to have, since your injury.
Since neither figure is an absolute certainty, your future lost income can become a hotly debated part of your injury claim!
You May Have Lost More Than You Realize
Hopefully, you've recovered from your injuries, which is why you are now approaching a settlement with the other party's insurers. However, you may not have stopped to fully consider the impact of the injury on your future, especially where your income potential and career are concerned.
If you think that a simple slip-and-fall can't possibly affect your earnings potential that far into the future consider these factors:
Forensic Economists May Be Able To Help
If your case is complicated because there are a lot of intangibles involved when figuring out your lost future income, your attorney may decide to hire a forensic economist. The forensic economist looks at factors such as your age, education, occupation, career level, work record and other professional records in order to evaluate your income potential both before and after the injury.
Essentially, the forensic economist builds a picture of what your professional career would have looked like if you had never been injured. Then, he or she builds a second picture of what your professional career can reasonably be expected to look like now. This comparison is what can be used to show how long (if ever) it will be before the two trajectories overlap. The difference between them is what can demonstrate to a jury the true value of your financial losses.
Talk to an attorney from a firm like Putnam Lieb about how your injury may have affected you professionally. You may not be able to put an immediate dollar figure on some of the more intangible aspects of the situation, but there are experts who can assist. Understanding how your career has been impacted by your injuries is an important part of recovering your losses.Share