As devastating as accidents can be, there are none worse than the ones that leave an injured victim disabled and unable to care for themselves or their families for the rest of their life. One of the most difficult things to prove in a case involving such an accident is the amount of financial loss the individual will likely suffer through their lifetime, as well as the devastating affect the injury has on their family.
In most accident injury cases, it is easy enough to prove the amount of medical care that was required to help the victim through a relatively short healing process. Even cases where the person can be out of work for a year or more can reasonably be estimated. However, when someone has experienced a life-altering injury that will keep them from being gainfully employed for the rest of their life, calculating an expected loss over an unknown number of years can be a daunting task.
The first thing any accident disability attorney will have to show is the extent of the injuries as well as the extent of the disability and how long the individual can expect to suffer from the results of the accident. Once they have shown the victim will likely never be able to work again, they will need to show how much the person was making before the injury as well as the what they could have been projected to earn had they remained employed until their normal retirement age.
They would then need to add in any amount any employer would have paid into a retirement account for them while they were employed as well as any bonuses they may have received as part of their employment. Many of the figures will be only estimates and nothing is taken for granted, but it gives the accident disability attorney a starting point at which to estimate their expected lifetime earnings potential. They cannot take into consideration any dreams or aspirations to own their own business later in life or how a job change may have radically affected their earnings potential.
Add to all of that the projected medical costs for the injured victim to maintain quality healthcare and the amount of any settlement can quickly skyrocket. In many cases, judges may determine that it is in the best interests of the injured victim and their family to have the settlement paid in monthly installments or annual annuity to prevent the person or their family from going on a wild shopping spree the day they get the settlement check, insuring the money will provide the assistance they need.
Additionally, with the entire amount placed into an annuity fund, interest earned on the money can help offset charges that may increase due to inflation or increased costs of many items. Typically, when the person passes away, any money that is left in the annuity account will pass along to survivors or beneficiaries named in the person's will. Generally, once the money has been paid it belongs to the family and the responsible party can never reclaim any balance. If you’re in the Atlanta area, seek out the best Atlanta injury attorney you can find and get started on your way to gaining your compensation.
