A Seattle wrongful death attorney takes a closer look at what constitutes lost income and how lost wages are accurately calculated.

Calculating Lost Income in Washington Wrongful Death Cases

Andrew Kim
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Personal Injury, Car Accidents, Motorcycle Accidents, Wrongful Death and Catastrofic Injuries Attorney

One of the most important aspects of wrongful death cases is accurately determining damages. The question is to what degree will the deceased’s family suffer because of the loss of their loved one? Obviously, all aspects of life are affected following a loved one’s fatal accident. Thankfully, the Washington justice system helps ensure that families do not suffer financial hardship in a case of death caused by negligence.

Calculating Lost Wages in Washington

Perhaps one of the biggest considerations is lost wages or lost income. This number, however, is not simply calculated by taking the deceased’s salary and multiplying it by the years that he or she would have worked had they lived. Lost wages calculations in Washington wrongful death cases must take into account a number of different factors, such as:

  • The person’s estimated earning capacity
  • If the person was unemployed or underemployed at the time of death
  • If the person was likely to be promoted
  • If the person was likely to receive a raise
  • Inflation
  • Labor market trends
  • The employer’s future success
  • Deferred payments
  • Social Security payments
  • Pensions and savings plans
  • Stocks and investments
  • Fringe benefits, such as health and/or life insurance

It can be even more difficult to calculate lost wages if the deceased person:

  • Did not have a traditional job
  • Owned a business
  • Wasn’t meeting his or her earning potential
  • Had only recently entered the workforce

When seeking damages after a fatal accident, it is imperative that the lost wages of your loved one are accurately calculated, taking all factors into account. A knowledgeable financial expert or economist can assist in calculating how your family’s finances will be affected in the years to come.

Washington Wrongful Death Attorney May Help You Obtain Compensation

If you have lost a loved one in an accident involving negligence, you may have a wrongful death case. Seattle wrongful death lawyer Andrew Kim will help you calculate the potential financial impact on your household. Call 800-636-3676 for a FREE, no-obligation consultation to learn how you may obtain compensation in the wake of your loved one’s preventable and untimely death.