Loss of Future Earnings in Jersey County Car Wrecks

Vehicular accidents in Jersey County do not simply affect your situation today, but they can dramatically affect your future as well. Consider for a moment the loss in future income that you may have.

If you cannot effectively perform your job whether completely or partially, your ability to earn a living is no doubt compromised.

That is why if you or your loved one has been involved in a car accident, it is only fair if you go after the person who caused the problem. When recovering for loss of future earnings in Jersey County car wrecks, you need the help of a personal injury lawyer who will be with you every step of the legal process.

How Car Accidents Cause Loss of Income

A new study made by the Illinois Economic Policy Institute (ILEPI) concluded that car accidents lead to $4 billion in Illinois economic loss.

Now, that is just for Illinois. If you look at the national level, car crashes cost the US economy almost $1 trillion every year.

It is undeniable that people lose a lot of money when they go through a Jersey County vehicular accident. Here are some of the ways you may suffer a loss of income:

  • Your injury prevents you from going back to work.
  • Your injury affects your productivity.
  • The psychological trauma you received from the accident prevents you from working fully.
  • Your vehicle cannot be used for business-related activities anymore.
  • You need to spend time, energy, and money to take care of the various aspects of the accident.

How Jersey County Car Wreck Future Lost Earnings Are Determined

In Jersey County, knowing how much you should get compensated could be complicated just like in other places. There are two types of loss in income — the past lost income and future lost income.

Between the two, it is relatively easier to determine past lost income. You would simply need to include pieces of evidence such as documentation and testimony to prove that you lost income due to the car accident injury you developed.

On the other hand, determining future lost income is a lot more difficult. The reason is that there are always unknown factors that could affect your ability to earn a living in the future. As a result, some assumptions and speculations need to be made simply to know how much money you should get compensated with.

Some factors that need to be considered may include:

Recovery Speed

As you recover from your injuries, you get back your ability to work on some level. Everyone recovers from injuries at different speeds. Some have a speedy recovery while others take years. This makes proving future lost income challenging.

Age

Another factor that may further complicate investigation is your age. The court will also take into consideration your retirement age and see a reasonable amount of your compensation.

Overall Health

Your mental, social, and emotional state can also be used as a reason for your inability to earn future income. This, too, needs a lot of documentation to prove in the court.

Usually, the challenges of proving future lost income are solved through the help of expert testimonies from professionals such as psychiatrists, neuropsychologists, physicians, economists, and researchers.

Examples Of the Challenges in Claiming Lost Future Earnings

To give you an idea of how lost future income works in personal injury lawsuits, here are some of the challenges that may complicate the case:

How Long a Person Cannot Work

A person who is injured in a car accident may eventually recover. The question now is, “For how long?”

For example, a bone fracture may need a cast. The lost income may easily be determined by looking at how long a person was immobile. However, people who have their cast removed do not automatically return to work. There are still days of recovery to be considered.

The unknown time when a person recovers until he is able to work can be established with the help of expert witnesses. However, during a court trial, the defendant may contest the claim of the plaintiff and make the whole process complicated.

How Emotional Distress Affects Earnings

There are times when a person is physically able to go to work, but still emotionally incapacitated.

Jersey County car accidents can be traumatic. The physical body is just one aspect of the overall health of an individual. If you wish to get compensated for emotional trauma, pain, or suffering, you may need the help of a neuropsychologist or psychiatrist to establish your facts.

How Much Earning Capacity is Regained

Some people may not fully recover from their injuries. However, others may regain enough functionalities to perform some level of work.

The defendant may hire experts who challenge the claim of the plaintiff by citing research and treatment advancement. This brings a lot of difficulties in accurately determining how many future earnings you have lost.

Call a Jersey County Car Crash Lawyer to Discuss Loss of Future Earnings

If you suffered a debilitating car crash, contact our firm. An attorney could help calculate and pursue compensation for loss of future earnings in Jersey County car wrecks.