- January 28, 2020
Following a car accident or other personal injury claim, it often takes time to recover from injuries. Surgically repaired injuries take, on average, 3-4 months to heal. In some serious personal injury cases, the time it will take a person to recover before they’re able to return to work is unknown. Some injuries prevent a person from ever returning to the job they had before the accident.
If you’ve been involved in a serious personal injury case that’s affected your ability to maintain your earning abilities, it’s important to discuss the possibility of a personal injury lawsuit. In certain cases, accident victims are entitled to compensation for loss of future earnings.
What is Future Loss of Earnings or Wages?
If you were involved in a serious accident that resulted in personal injury, it’s important to understand the definition of future loss of earnings. Future loss of earnings is not defined by your rate of pay at the time of the accident. Instead, it’s defined by the loss of your ability to earn in the future. If you were on track to earn more from your job (or your career) in the future, but are unable to do so because of accident-related injuries, you’re likely entitled to compensation.
How Do You Calculate Future Loss of Earnings?
Just as future loss of earnings isn’t defined by your current earnings, it can’t be calculated by your current earnings either. In a future loss of earnings lawsuit, a settlement is often determined based on what would have been your future earning potential. Calculations for future loss of earnings include:
- How many years you have left before retirement
- Future earning potential in your industry
- Past experience
Every future loss of earnings case is different and there’s no set formula to come up with a sum. It’s important to provide a detailed account of your work history and experience if you’re pursuing a loss of earnings settlement.
Do I Need an Attorney to Sue for Future Earnings?
The most effective way to ensure you get the compensation you’re entitled to is hiring a knowledgeable personal injury attorney. An experienced car accident lawyer will know the intricacies involved in a future loss of earnings case and help you understand how much you’re entitled to according to the law. Remember, even if you were not fully disabled from your injuries or were unemployed at the time of your accident, you might still be eligible for a loss of earnings settlement. The only way to know is to consult an attorney.
Trust The Barnes Firm With Your Loss of Earnings Case
If you’ve been seriously injured as a result of someone else’s negligence, you don’t have to fight for your future alone. You deserve the help of trustworthy and reliable legal counsel.
The Barnes Firm is a trusted source for personal injury attorneys. Our attorneys have decades of experience representing personal injury cases all across the nation. Together, we have won millions in settlements and continue to serve our clients by going above and beyond to maximize the case’s value.
The Barnes Firm has been recognized by Best Lawyers in America and Super Lawyers. To schedule a free consultation, call The Barnes Firm. Our legal team can help you win back your life and the future you deserve.
The Barnes Firm (800) 800-0000