A car accident can have extreme and long-lasting effects on the lives of its victims. The forces involved when two or more cars collide can inflict catastrophic injuries on anyone involved. There is even a chance that your car accident injuries will even prevent you from returning to your job. No matter what line of work you are in, something as serious as a traumatic brain injury or paralysis can make it impossible to go back to business as usual. Or, if you do manual labor, almost any lasting injury can mean you will be unable to continue. Changing your line of work completely can be daunting, as well as impractical or impossible. Not everyone is able to do every job. The good news here is that you can be reimbursed for your lost wages and lost future earnings. An attorney can help fight for you to receive this important type of compensation.
How Are Lost Future Earnings Calculated?
Rarely does anyone get hurt in a car crash and then turn to a higher-paid occupation after being taken out of their chosen profession by their injuries. You are probably already doing the highest-paid job that you are able to get. Rather, most people in this position will be either forced to take a lower-paid position or to drop out of the workforce altogether.
What the court will need to calculate is the difference between what you would have reasonably made throughout the rest of your life in the job you had before the accident, and what you are reasonably likely to earn now, after the car accident. This could be zero, if you are no longer able to work at all.
For example, imagine that you are an office worker earning $50,000 per year. If you would have likely worked another ten years before retiring, then your predicted lifetime earnings are $500,000. Then you get into a car accident and suffer a traumatic brain injury. You lose the ability to perform your professional job due to significant memory and mood problems caused by the brain injury. You must now take a job as a part-time unskilled factory worker, but you can only make $20,000 per year until you retire in ten years.
That means you are losing $30,000 each year because your car accident injuries forced you out of your profession. Overall, between now and retirement, your predicted earnings have gone from $500,000 to $200,000. You could be awarded as much as $300,000, as you are only losing that money because someone else chose to drive carelessly and hurt you.
Call a Texas Car Accident Lawyer
The Law Office of Shane R. Kadlec is skilled at helping car accident victims recover their lost future earnings and other expenses associated with the crash. Our experienced Houston car accident attorneys will fight for you to recover every type of compensation you deserve. Call 281-643-2000 for a free consultation.
Source:
https://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=073500050K2-1116
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