Wrongful Death and Compensation for Lost Future Income

 Posted on October 24, 2023 in Wrongful Death

Losing a loved one is a heartbreaking experience, regardless of the circumstances. However, the situation can be even more painful when the cause of their death involves negligent or intentional actions. California law stipulates wrongful death cases must be brought within two years. In such cases, the law allows the deceased person’s family to seek compensation for their loved one’s lost future income. If you are interested in pursuing a wrongful death lawsuit, you should strongly consider hiring a lawyer. It may be argued that this is the only way to ensure someone else looks after your rights and interests.

Unpacking What Wrongful Death Means

For someone’s passing to be considered wrongful, the cause of their death must come from the wrongful act or neglect by another person or entity. In California, the surviving family members of the deceased person’s estate have the right to file a wrongful death lawsuit to seek compensation for the damages they have suffered because of the loss. 

Compensation for Lost Future Income

One significant aspect of wrongful death cases is calculating the compensation for lost future income. In this context, lost future income refers to the financial support the deceased person would have provided to their family had they not been wrongfully killed. Earnings, benefits, and other financial contributions the deceased person would have made over their working years are also considered. 

Factors Considered in Calculating Lost Future Income

Various factors are taken into consideration when calculating future income in a wrongful death case in California. These may include:

• Earning capacity – The court will assess the deceased person’s earning capacity, considering factors like their age, education, work experience, and skill set. This evaluation helps determine the potential income the deceased person would have earned during their working years. 

• Life expectancy – The court will also consider the deceased person’s life expectancy, taking into account their age, health, and other relevant factors. This helps determine the number of future income-earning years that have been lost due to the untimely death. 

• Inflation and cost-of-living adjustments – Compensation for lost future income is often adjusted for inflation and the cost of living. These adjustments consider the potential wage growth and changes in the overall economy. 

Contact a Los Angeles, CA Wrongful Death Attorney

To pursue a wrongful death case in California, you need to hire a knowledgeable and determined lawyer. Contact the skilled LA County, CA wrongful death lawyers with Tahmazian Law Firm, P.C.. Call 818-242-8201 for a free consultation.