Compensation for Economic Loss from a Truck Accident Death

There are two main types of losses the court has to determine when settling an Illinois wrongful death lawsuit stemming from a truck accident: economical and emotional.  Economical losses include medical bills and the potential income the deceased could have earned had the fatal truck accident not occurred.

Medical bills are fairly easy to calculate, as they only involve the bills accrued from the medical treatments resulting from the truck accident until death. The matter of lost wages is another story. There are many factors that come into play when determining your family's economic loss. When determining the lost earning potential of your loved one, the court evidence looks at 4 main factors: 

• The deceased's earning potential;
• The deceased's life expectancy;
• The deceased's assets; and
• The deceased's health at the time of their death. 

The earning potential looks at the deceased's wages at the time of their death and factors in the future earning potential should they not have been involved in the fatal truck accident. The court may also consider the potential for raises and bonuses, as well as when the deceased would have been retired as part of the final settlement amount.

There are many more factors that come into play when determining the types and amounts of compensation for a truck accident death. Our article library has a thorough explanation of the financial matters and the types of compensation your Illinois wrongful death lawsuit can claim. 

An experienced Chicago truck accident lawyer at The Law Offices of Barry G. Doyle, P.C. can help you obtain the proper documentation for your claim to prove your economic needs following the unexpected loss of your loved one. Contact us today for a free case evaluation. 312-263-1080.