If you have experienced physical setbacks as a result of a car accident, it is crucial to understand your options. Calculating lost earning capacity after a life-altering car accident in Beaver County can be difficult to do without the appropriate legal help. When you hire a car accident lawyer, you are hiring someone who can assist you in determining how much compensation you may be entitled to. This includes loss of future earnings.
In addition to helping you figure out the numbers correctly, the right lawyer can also support you in many other ways. You may be entitled to compensation for medical expenses, property damage and the pain and suffering you have endured as a result of your injuries. A lawyer can help you gather receipts and records of such expenses so that you can be compensated for them in the future and make a claim for all of your non-economic damages as well.
Calculating Lost Earning Capacity
Future loss of earnings and earning capacity is the difference between what you could have earned in the future if you had not been injured, and what you will be able to earn considering the injuries you sustained. Factors to be considered include your past work experience, education, experience and age, as well as projected increases in productivity. Often times it may be necessary to hire an expert to prepare a lost earning capacity calculation to ensure that you are being compensated fully for your loss. At Bowers Fawcett & Hurst, LLC, we have the resources and contacts to hire the appropriate experts to ensure your lost earning capacity claim is maximized.
It is possible to receive compensation for these losses. If you believe you may be entitled to compensation, contacting a lawyer is your first step. They can help you navigate the process of identifying what your lost earning capacity is and how to obtain compensation for it.
How a Lawyer Can Help
If you are considering seeking legal help after a life-altering car accident, there are many ways in which a lawyer can be beneficial to your case. Whether you want to file a claim for compensation or are simply thinking of exploring your options, legal guidance can point you in the right direction. When you hire a car accident lawyer, they can provide the following services:
- Investigating your accident. In order to apply for compensation, you will likely need to prove that you were in an accident that was someone else’s fault and that you sustained serious injuries as a result. Your lawyer can gather photos, videos, witness statements, and even police reports to present in court or to your insurance company.
- Obtaining medical reports. In addition to gathering evidence relative to the accident, a lawyer can also help you obtain and keep track of the necessary medical documents from each visit to the hospital or doctor you have made.
- Speaking and negotiating with your insurance company. In some cases, you may find it difficult to receive the care you deserve from your insurance company. In these circumstances, your lawyer can act as a third party who can advocate on your behalf for the compensation and treatment you are entitled to.
- Representing you in court. If you are required to appear in court to resolve your case, your lawyer may accompany you and represent you there. For residents of Beaver County, the courthouse you will likely appear in is the Court of Common Pleas of Beaver County, located at 810 3rd Street, in Beaver.
FAQs
How to Calculate Lost Earning Capacity?
Future loss of earnings and earning capacity is the difference between what you could have earned in the future if you had not been injured, and what you will be able to earn considering the injuries you sustained. Many factors go into the calculation and it is easy to overlook items such as your expected increase in productivity and lost retirement income to name a few.
How Can You Prove Loss of Earnings?
There are many documents you can gather to show loss of earnings. Some common ones include pay stubs, tax returns, and even a letter of explanation from your employer. You should be careful to gather documents that include dates that you have missed work, as well as the hourly rates. Do not overlook lost income from raises, lost vacation time and retirement benefits.. An experienced attorney can make sure you are receiving all of the compensation you are entitled to.
What Is Diminished Lifetime Earning Capacity?
Diminished lifetime earning capacity is a term used to refer to a lifelong, permanent reduction in the ability an individual has to earn income. This can include the loss of of promotions and raises. If diminished lifetime earning capacity can be established, you will likely be able to receive compensation to cover these losses. While no amount of money can replace the career you may have had, it can ease future financial burdens.
How Are Lost Earnings Calculated?
Lost earnings represent past lost wages or earnings and can be calculated in a multitude of ways, depending on the type of job you previously had and the manner in which your earnings are calculated. For hourly employees, it may be as simple as the number of hours you missed multiplied by your hourly wage rate. For salaried employees there may be additional steps in order to determine how much you lost and how to convert that time into a wage loss amount. Contract or union agreements can greatly impact this calculation. And if you are self-employed, calculating your wage loss may require evidence of past earnings, lost jobs, and the cost of replacement employees
Hire a Car Accident Lawyer: Bowers Fawcett & Hurst, LLC
If you have experienced a loss of earnings or earning capacity after being involved in an accident, it is never too late to reach out for legal help. At Bowers Fawcett & Hurst, LLC, we understand the physical, emotional, and financial difficulties you are likely facing during this time. We have a combined 45 years of experience in helping individuals just like yourself with their legal battles and are equipped to help you do the same.
As an integral part of the Beaver County community since 1995, we are dedicated to helping each and every client receive the compensation they deserve. Whether you need compensation to cover medical bills, damage to your vehicle, or lost wages, we are here to help. Contact us today to learn more about who we are and ways we may be able to serve you.
