The Importance Of Including Lost Wages In A Personal Injury Settlement


If you are filing a claim due to an injury you sustained, keep in mind that part of your settlement should include loss of income. If your injury was enough to keep you out of work, the amount of money you missed out on, as well as other work opportunities, should be calculated in any settlement agreement you negotiate. This article will explain what you should consider when looking at lost income. 

What's Recoverable in Lost Income

You are entitled to receive compensation from the person liable for your injuries and for any wages and income you've lost because of your injuries. This includes income lost because you could not work, as well as time missed because you were seeking treatment for your injuries. The right to seek compensation for lost income applies to both a part-time and full-time job. You can be an hourly-worker or on salary, and you have the right to seek compensation for lost income even if you're self-employed.

Vacation Pay and Sick Time 

If you had to take sick time or vacation pay to help pay for the time you missed at work, you still have the right to seek compensation. You were entitled to use the vacation time or sick leave for other times you may have needed or wanted to use it, and your injuries were not your fault. Having to use your sick and vacation pay is considered the same thing as losing the income altogether.

In order to be compensated for lost income, you need to be able to prove two things. First, you need to show how much time you missed due to the accident, and second, how much money you would have made had you been able to work. 

Lost Earning Capacity

You may also be able to recover damages if you can prove that your ability to earn income in the future has been diminished or at least impaired because of your injury. Factors that determine the amount of compensation to be awarded include your age, occupation, health, life expectancy, skills, talent, experiences and training. Past earnings are also a factor in calculating how much compensation should be given for lost earnings, but the real focus of any determination is what you would have made had you not been injured in the accident. 

In order to be successful in a claim for lost wages, it's best to retain an experienced personal injury attorney.

About Me

Making The Choice To Seek Legal Advice

Many people who are experiencing a legal issue are hesitant to contact an attorney because they aren't sure if they really need legal advice from a professional. My name is Sylvia Leonard and a few years ago, I felt the same way. I considered seeking legal help but I thought maybe I could handle the situation on my own without hiring an attorney. To help me with my decision, I did a lot of research about the benefits of legal advice and I finally decided that I should consult an attorney. That was the smartest move I ever made and I'm very glad that I didn't let my uncertainties get in the way. I'm writing this blog to give information to others who are also unsure whether they need to hire an attorney. I hope that after reading my blog, it will also help you to make the right decision.

Search

Archive

Latest Posts

6 December 2018
When you marry someone, the expectation is that you will be open and honest with them about everything. So if you think your spouse may be sneaking ar

25 October 2018
As a motorist, it's important to not only respect the yellow and white lines that you see on the road but to also be wary of them when they're freshly

19 September 2018
Alcoholic beverages can make your restaurant a more festive place to be. Serving specialty drinks will not only delight your customers, it will help i