You may be paid for “lost earning capacity” if a negligent party harmed you and it interfered with your ability to work. This is the anticipated loss of your future wages due to your post-injury reduced capacity for work. It is distinct from “lost wages,” which refers to the money you have already lost from missing work days. Make sure to speak to an attorney for help.
How can I demonstrate my lost income potential?
We must determine how much you would have continued to make if you had not been hurt in order to demonstrate your lost earning potential. You may use forecasts or guesses to determine this number, but the judge or juror will want to know with “reasonable certainty,” which means that your plans must be supported by proof.
An expert witness is frequently used as proof of diminished earning potential.
- Doctors and clinicians who can determine the severity of your disability and its expected duration
- a vocational expert or an authority in your field demonstrating your potential for future employment, your useful skills and experience, and the positions you can apply for after an accident
- An economist or financial analyst who can spot income patterns in your industry can help you compare what you have continued to make in your prior position to what you were able to drive after the mishap.
- Your pre-accident boss, if any, determines your job output and potential for advancement before the injury.
How much compensation can I get in California for diminished income capacity?
Due to various variables, the sum awarded for lost earning capability differs greatly. We must take into account factors like:
- Your prior job’s pay
- Any increases or advancements you would have gotten
- Your potential earnings after the mishap
- How long will it take to hit retirement age, depending on how long your impairment or condition will last.
- Other lost benefits from your prior employment, such as allowances, extra pay, incentives, commissions, paid vacation days, and 401k donations, should also be considered as part of your damages for lost earning capacity.
Even if I can perform light labor, can I still claim diminished earning capacity?
If your capacity to work has been affected but not gone entirely, then yes, you can file a claim. For instance, you might have been a boss at your place of employment before your accident but are now limited to computer work. Alternatively, you might have previously worked in a well-paying industry but have been forced to shift careers due to disability. We can figure out the difference between your prior and present salaries and any increases or incentives you might not be eligible for right away.