Financial Recoveries

The financial impact of losing a loved one in an accident can be overwhelming. However, if the accident was due to someone else’s negligence or wrongful action, you can recover compensation through a wrongful death lawsuit. The following five kinds of wrongful death compensation are just some financial recoveries you can make from wrongful death compensation in Fort Worth.

1. The Value of Lost Income for Family from the Decedent

You can calculate the value of lost income for the family using the earnings and life expectancy tables or by looking at the prior earnings of the decedent. The calculation, however, does not consider expected salary increases that may have occurred. Further value lost income calculations should also include monetary values of any fringe benefits such as health insurance coverage or pension payments to reflect the projected value to family members had a wrongful death never occurred.

You can contact a Fort Worth Wrongful Death Claim Lawyer to help you review your case and ensure you get the maximum compensation you deserve. If someone has wrongfully caused your loved one’s death, you’re entitled to compensation for your pain and suffering and financial recovery for their lost wages.

2. Compensation Against Loss of Inheritance

The wrongful death of a loved one can have severe consequences for the surviving family members. In addition to emotional anguish, the loss of support for parents or children has an immense impact on financial stability. One way to recover your losses is through wrongful death compensation. The loss of a loved one can cause a loss of inheritance which the surviving family may need to make up for financially. 

For example, if the deceased were to leave behind an inheritance had they survived, the survivors could file a claim against the loss of inheritance. That way, you’ll be able to provide more care and financial security for yourself and your dependents while recovering some of the expenses you incurred due to the loss.

3. Compensation Against Loss of Maintenance and Support to the Family

Wrongful death claims can lead to much more than just the settlement of a claim. Depending on the size of the claim, some people can get additional compensation for family members who have lost someone close to them through no fault of their own. If a family loses a member responsible for family support, maintenance,  or caretaking due to wrongful death, they may be eligible for this type of financial recovery.

The total amount varies depending on the person’s income and expenses and those of the surviving spouse and children. Consequently, close family members can continue to pursue educational opportunities without worrying about how to cover the tuition fees. The amount varies depending on each circumstance but can cover past and future losses.

4. Compensation for Loss of Love, Care, and Companionship

You can also receive compensation for losing love, care, and companionship. When one loses a caretaker in a family, they are likely to lose guidance in decisions about their life. They may be left with abandonment or self-doubt because they have lost someone close enough to them who could help guide them through life’s problems. For some people, this sense of loss is so great that it leads to depression or even suicide.

However, with an experienced wrongful death claim lawyer, you can also get assistance filing a lawsuit to cover damages like these. A personal injury attorney will fight for your interests and ensure you receive compensation for losing love,  care, and companionship. It is essential to know that legal representation can make all the difference when dealing with any case involving a loved one’s death.

5. Compensation for Emotional Distress and Mental Anguish

Many wrongful death claims also include an award for compensatory damages, such as emotional distress and mental anguish. In most states, these damages are not capped and may be unlimited. If you were the surviving spouse of a person who died because of another’s negligence, you could recover the pain and suffering you undergo while attempting to cope with your loss.

A large sum of money can never bring back a loved one, but it is essential to remember that a wrongful death lawsuit does give family members financial assistance to cope with an unexpected loss. That way, you can heal mentally and emotionally and focus on rebuilding your life.

Conclusion

If your loved one dies due to someone’s negligence, you can sue them for wrongful death compensation. When there is a settlement or trial, you may be able to get money for funeral expenses and lost wages. Depending on the situation, you may also be able to get compensation for pain and suffering. You can recover many different financial losses through wrongful death compensation in Fort Worth as you try to move forward with life after losing a loved one. Remember that it is always best to speak with an attorney about your legal options before moving forward with any legal action.

Read More: When Can You Sue an Employer for Wrongful Termination?