Economic damages in injury or wrongful death cases refer to the quantifiable financial losses that a plaintiff (the injured party or the family of a deceased person) may recover from the defendant (the responsible party) due to an injury or death. These damages are meant to compensate for actual monetary losses suffered as a direct result of the injury or death. The goal is to restore the victim or their family, as closely as possible, to the financial position they would have been in if the harm had not occurred. These damages are distinct from non-economic damages, which account for intangible losses like pain and suffering.

Types of Economic Damages

Economic damages generally fall into several broad categories, depending on the nature of the case:

Medical Expenses

In personal injury cases, one of the most significant components of economic damages is the cost of medical care. This includes all past, present, and future expenses associated with treating the injury, such as hospital bills, doctor visits, surgery, rehabilitation, medication, medical equipment, and long-term care. The injured party may also claim transportation costs to and from medical appointments. If the injury leads to a permanent disability, the plaintiff can also recover future medical costs required for ongoing treatment.

Lost Wages

Injury often prevents individuals from working, either temporarily or permanently. Economic damages may include compensation for any wages lost during the recovery period, as well as any future earnings lost due to long-term or permanent disability. This category includes not only regular salary or wages but also lost benefits, bonuses, and other compensation that the injured party would have received if they had continued working.

Loss of Earning Capacity

When an injury reduces an individual’s ability to work at the same level as before, economic damages may include compensation for the loss of earning potential. In wrongful death cases, the family may claim the lost income that the deceased person would have contributed to the household or family over their lifetime.

Funeral and Burial Expenses

In wrongful death cases, the family of the deceased may recover the costs associated with the funeral and burial. These are straightforward out-of-pocket expenses that fall under the category of economic damages.

Property Damage

If the injury case involves damage to property, such as a car in a vehicular accident, the plaintiff can seek compensation for repair or replacement costs. This is particularly relevant in cases where property damage is a direct result of the defendant’s negligence.

Household Services: If the injured party can no longer perform household tasks such as cleaning, cooking, or caring for children, economic damages may also cover the costs of hiring help. This applies both to short-term injury cases and long-term or permanent disabilities.

Calculating Economic Damages

The calculation of economic damages often involves expert testimony from medical professionals, economists, and vocational experts. These experts help quantify future losses, especially when projecting long-term costs like lost earning capacity or ongoing medical care. Economic damages are generally easier to calculate than non-economic damages because they are based on actual, documented financial losses. However, in some cases, especially those involving future losses, estimates may be required, and these can vary based on assumptions about inflation, life expectancy, and the likely trajectory of the plaintiff’s career.

In injury or wrongful death cases, economic damages serve a crucial role in ensuring that the victim or their family is compensated for the financial losses caused by the incident. By covering medical expenses, lost wages, loss of earning capacity, and other tangible losses, these damages help alleviate the financial burden of the injury or death. Although economic damages cannot undo the harm suffered, they provide a means of recovery that aims to restore some degree of normalcy to the lives of those affected.

Call Stein Whatley Astorino, PLLC to schedule your free and confidential case evaluation. Our best Louisville wrongful death lawyers are available to answer your questions. 502.553.4750.

Serious Attorneys. Serious Results.

Free and Confidential Initial Case Evaluations After a Wrongful Death

Free and confidential initial case evaluations with Stein Whatley Astorino, PLLC, are crucial for grieving families following the wrongful death of a loved one. These consultations offer vital support and clarity during one of the most challenging times in a person’s life.

Families are often overwhelmed with emotional, financial, and legal challenges after losing a loved one due to wrongful death. Understanding their legal rights and options can be confusing and daunting. Stein Whatley Astorino, PLLC, recognizes this and provides an invaluable service by offering free consultations so families can explore the viability of a wrongful death claim without any financial burden or commitment. It gives families like yours a chance to seek justice without further stress.

Why Confidentiality Matters?

One significant aspect of these consultations is confidentiality. Grieving families need assurance that the sensitive details of their case will remain private. This includes the emotional trauma and the circumstances surrounding the death. Stein Whatley Astorino’s attorneys emphasize maintaining the highest standards of confidentiality so that personal information is protected while our legal team explores the best course of action for pursuing compensation.

Furthermore, these initial evaluations help grieving families determine whether they have a legitimate claim. Wrongful death cases can be legally complex. They often require an in-depth analysis of factors such as negligence, liability, and potential damages. During the consultation, Stein Whatley Astorino’s team of wrongful death attorneys assess these elements and explain the next steps clearly and compassionately. This information empowers families to make informed decisions about pursuing justice for their loved one.

Financial uncertainty is a major concern for many grieving families. Medical expenses, funeral costs, and the loss of future income can be devastating. Stein Whatley Astorino, PLLC, helps families have access to exceptional legal advice regardless of their financial situation by providing a free case evaluation. Our service enables you to explore your legal rights without the fear of incurring additional expenses at a time when financial strain is already a pressing issue.

Lawyers Who Care

Our wrongful death firm’s experience in fatal injury cases strengthens the support we provide during these consultations. The team, including wrongful death trial attorneys like me, Matt Stein, and Rob Astorino, have a deep understanding of the legal complexities surrounding wrongful death claims. We have a commitment to fighting for justice on behalf of our clients. Whether the wrongful death was the result of a car accident, medical malpractice, or another form of negligence, our firm’s legal expertise ensures that families receive comprehensive, tailored advice.

Call Stein Whatley Astorino, PLLC, to schedule your free and confidential case evaluation. We will work to determine if you and your family are entitled to compensation following the loss of a loved one in a wrongful death accident. Our best Louisville wrongful death lawyers are available to answer your questions. 502.553.4750.

Serious Attorneys. Serious Results.