How Are Wrongful Death Settlements Calculated?
Every year, about 225,000 Americans die after suffering unintentional injuries. These injuries account for about 7% of all the deaths that take place in the country annually, which makes them the third-leading cause of death in the U.S.
If you have a loved one who died from an unintentional injury, you may be able to file a wrongful death lawsuit against the person, or business, you believe was responsible for their death. A wrongful death lawyer can lead the way as you seek to collect damages in a wrongful death case and hopefully help you win a settlement.
So, how are wrongful death settlements calculated? Find out below.
There Is No Surefire Formula for Calculating Wrongful Death Settlements
Some people are under the impression that wrongful death lawyers and insurance companies must have a formula set up to calculate what wrongful death settlements should be. A handy formula like this would speed up the settlement process, but unfortunately, one doesn’t exist.
All wrongful death cases are different and include varying circumstances. Because of this, those affected by wrongful deaths, their attorneys, and the insurance companies involved in cases must all work together to come up with settlements that work for everyone. This is often easier said than done and can lead to wrongful death cases playing out over extended periods of time.
Many Key Factors Impact Wrongful Death Settlements
There isn’t a formula to calculate wrongful death settlements because it’s just about impossible to put a price tag on a person’s life. However, certain factors can help those involved in wrongful death cases develop fair settlements for those filing these civil cases.
Here are several key factors that can affect the final calculations for wrongful death settlements:
- A person’s age, health, and salary at the time of their death
- The circumstances surrounding a person’s dependents or family following their death
- The education and training a person acquired before their death
- How the death occurred and whether there are aggravating circumstances surrounding the death
Often, the economic impact of a person’s death is also a factor in the equation. Some of the expenses considered include:
- Medical bills.
- Property damage.
- Funeral costs.
A wrongful death lawsuit filed by the family of an elderly person who was in poor health and died during a medical procedure might not be worth the same amount as a wrongful death lawsuit filed by the family of a young professional who died during an automobile accident or a mesothelioma wrongful death. Many factors can determine wrongful death settlement calculations.
Wrongful Death Settlements Don’t Have to Be Accepted
One thing to remember when you begin working side-by-side with a wrongful death lawyer is that you aren’t required to accept a settlement offer. If you don’t feel as though a settlement offer matches up with a wrongful death action, you can turn it down through your attorney and choose to go to trial.
Before doing this, though, understand the risk you might be taking. Since there isn’t a formula in place as part of the wrongful death statute in any state, you may be at the mercy of a judge when you go to court. It could impact the damages you can collect from the defendant in your case.
Once you go to trial, the value of your case is set by a judge or jury; both of which can be unpredictable.
Let a Wrongful Death Lawyer From Our Law Firm Assist You
Calculating a fair wrongful death settlement is challenging, but an experienced attorney can help you understand what kind of settlement offer you can expect. Fadduol, Cluff, Hardy & Conaway, P.C. is the law firm you can count on for more information on wrongful death cases.
Contact us at 800-433-2408 today to schedule a free consultation with a wrongful death lawyer.