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How Should I Consider Future Losses as a Result of Personal Injury?

May 5, 2017

shutterstock_523848466.jpgIn New Jersey, damages in a personal injury lawsuit are meant to help you recover for economic losses you suffer as a result of the injury. But when you suffer a serious injury, you lose more than the cost of your medical bills. In fact, you often have damages that will continue to cost you money well into the future. These future losses form a significant part of your personal injury recovery.

Lost Income

The most obvious example of future loss is the income you would have made if not for sustaining your injury. This is based on what you were earning after taxes at the time of the injury. But you also need to determine how long you will lose those wages based on your life expectancy before the injury, whether you will be able to work again, and what the difference is between what you will earn and could have earned. Your lawyer will help you gather the documentation you need to demonstrate the full loss you would expect to suffer.

Cost of Care

Will you require ongoing medical care for your injuries? Often a serious injury means medical costs will continue well after your initial hospital stay. Getting a complete diagnosis of your injuries and treatment plan for recovery is critical to your case because it allows you to calculate costs and factor them into your personal injury damages claim. 

Lost Value

Finally, some injuries render you unable to perform basic duties around the house. If you need assistance doing everyday tasks around the house, this will cost you money over time that you need to factor into the total loss amount. If you lose your ability to care for your loved ones, that has a monetary value as well. Gathering evidence of what you did and what you need will help you calculatea more completerecovery of your damages.

If you have been seriously injured, your losses don't stop at the time of the injury. Contact Stern and Stern today to get the full recovery you deserve.