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How Does Your Cincinnati Accident Lawyer Calculate Damages for Lost Future Income?

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If you’ve been injured in a car accident, you may be entitled to damages. The question is what kind of damages can your Cincinnati car accident lawyer demand? It all depends on what your attorney can prove. However, if you become disabled, there’s a good chance you’ll be entitled to damages for lost future income.

If You Were Hurt in a Car Accident, You May Be Entitled to Damages

When our Cincinnati injury lawyers first meet with a new client, we ask them to tell us their story. We like to hear their version of events before we look at any paperwork.

By the time they come into the office, they usually have a good idea of how bad their injuries are. They also know whether they can still do the same kind of work they did prior to the crash.

In most of the cases we handle, we demand the following types of damages on behalf of our client:

  • Medical bills
  • Cost of future medical treatment
  • Lost wages
  • Lost future income
  • Property damages
  • Pain and suffering

Of course, every case is different. There’s no guarantee that you’ll receive any of these things. If you do qualify for lost future income, your Cincinnati accident lawyer will have to calculate the amount they believe you’re entitled to.

Your Cincinnati Injury Lawyer Must Prove Negligence

Before you can discuss damages, your Cincinnati injury lawyer must first prove fault. The only way you’ll receive damages from the defendant is if you can prove that they were negligent.

To do this, your need to demonstrate the following four (4) elements of negligence:

  • The other driver owed you a duty of care.
  • They breached this duty.
  • You were injured.
  • Your injuries were directly caused by the defendant’s breach of duty.

Once your Cincinnati accident lawyer proves the above elements, you can focus on proving your damages.

They Also Have to Demonstrate That You Were Hurt

In addition to proving that the defendant didn’t behave the way they should have given the circumstances, you also need to prove your injuries. The best way to do this is by submitting a copy of your medical records.

If your injuries were serious enough to take you out of work, you may be entitled to damages for lost future income.

Your Cincinnati Accident Lawyer May Demand Damages for Lost Future Income

Just because you were involved in an auto accident doesn’t mean you’re automatically entitled to monetary damages. Your Cincinnati injury lawyer has to the damages listed in your initial complaint.

When it comes to lost future income, you need to demonstrate two things. First, you must show that you can no longer do the same kind of work you did before the crash. Second, your Cincinnati accident lawyer must also prove that you will earn much less now because of your disability.

Your car accident lawyer will calculate lost future income

Are You Disabled as a Result of the Crash?

The only way you can expect to receive damages for lost future income is by proving that you won’t earn what you would’ve had you not been injured. One way your Cincinnati injury lawyer can do this is by submitting documentation that you’re on disability as a result of the crash.

If you are disabled, you may not be able to work at all. You’ll only receive disability benefits, at least for the foreseeable future. Since you must prove that your condition will last for at least a year to qualify for disability, you should have no difficulty proving that you’ll lose future income because of the accident.

Can You No Longer Do the Work You Did Prior to the Accident?

Even if you aren’t deemed disabled, you can still demand damages for lost future income. For example, imagine that you earned $100,000 per year as a construction worker. You are now relegated to office work. Your expected salary is now $40,000.

This represents a difference of at least $60,000 per year. This will be the base amount your Cincinnati accident lawyer will use when determining your lost future income.

How Is Your Lost Future Income Calculated?

First, your Cincinnati injury lawyer will determine how much income you’ll lose every year. Then, they can then calculate your lost future income. What they will do is take the yearly reduction in income ($60,000) and multiply it by the number of years you would’ve worked before retiring.

For purposes of calculating damages, it is assumed that a plaintiff will retire at the age of 65. With the example here, imagine that you are 30 years old at the time of the accident.

This means you would have worked for an additional 35 years. If you multiply your annual loss of income ($60,000) and multiply it by the number of years before retirement (35), you’ll have your total damages.

In this example, the amount your Cincinnati accident lawyer would demand is $2.1 million. Of course, you may not receive the full amount. Since most cases settle out of court, your attorney will compromise on the total amount paid.

Reach Out to an Experienced Cincinnati Injury Lawyer Today

If you’ve been injured in any type of motor vehicle accident, you may be entitled to damages. Of course, your Cincinnati accident lawyer will need to prove the other driver was at fault. They’ll also need to show that you suffered an actual injury.

The amount you’ll receive will depend on a few things. First, the more serious your injuries, the more your case is worth. Second, if you’re no longer able to do the same kind of work you did prior to the crash, you’ll be entitled to compensation for lost future income.

Finally, if you suffered a great deal of physical pain and mental anguish, your Cincinnati injury lawyer can demand damages for pain and suffering. It all depends on what your attorney can prove.

We recommend that you contact our office to schedule your free, initial consultation. Take advantage of your free, initial consultation and find out if your case is worth pursuing.

Jay A. Bolotin is a partner at the injury law firm of Young, Reverman & Bolotin. Serving the people of Indiana, Kentucky, and Ohio, Jay dedicates his career to helping clients in the tri-state area obtain financial compensation after suffering serious injuries. He focuses his practice on cases involving car accidents, trucking accidents, dog bites and animal attacks, and other types of personal injury incidents.

Years of Experience: More than 25 years
Registration Status:: Active
Bar Admissions: Illinois, Kentucky, Ohio, Indiana, and Cincinati Bar Association