Sometimes the consequences of a car accident last a lifetime. They can include limited mobility, chronic pain, the loss of a limb, or compromised vision. Severe injuries like these can compromise your ability to earn a living and leave you facing an uncertain future full of financial distress. In personal injury law, this devastating consequence is referred to as “loss of earning capacity.”
Fortunately, car accident victims who lose earning capacity have legal options. You may be entitled to compensation for the long-term impact of your injuries. However, to recover that compensation, you’ll need to understand how a loss of earning claim works, the evidence required to prove one, and the legal help available to you.
What Is Loss of Future Earning Capacity?
Loss of future earning capacity refers to the reduction or elimination of a person’s ability to earn income due to injuries sustained in an accident. Unlike lost wages compensation, which covers income you’ve already lost due to the accident, future loss of earnings compensation covers the wages you could have earned in the future had you not suffered your injuries.
For example, suppose a car accident causes a severe back injury that prevents you from returning to your previous job or forces you to accept lower-paying work. In that case, you may have a valid loss of earning claim. An experienced personal injury attorney from Kraft & Associates can assess the full extent and impact of your injuries on your future earnings and fight for the compensation you deserve.
Can I Get Compensation for Loss of Future Earning Capacity?
Yes. If an accident prevents you from reaching your full earning potential, the law allows you to seek compensation. Some examples of injuries that might qualify for future loss of earnings compensation include the following:
- Permanent injuries that limit physical abilities
- Cognitive impairments that reduce work performance
- Psychological trauma that affects employability
- Changes in career path or job status due to injuries
Securing compensation for loss of earnings capacity requires careful documentation and substantial evidence. Insurance adjusters often undervalue this type of claim, so having an experienced attorney to protect your rights can make a significant difference in the outcome of your case.
What Evidence Do I Need to Prove a Loss of Future Earning Capacity Claim?
To win a future loss of earnings claim, you need to show that the at-fault party’s negligence compromised your ability to earn income and then calculate the true value of your diminished earning capacity.
Your attorney will do this by seeking the following:
- Medical Records – Detailed reports from doctors and medical specialists showing the extent of your injuries
- Employment Records – Past pay stubs, tax documents, performance reviews, and job descriptions to establish your earning history
- Expert Testimony – Vocational experts and economists who can estimate how your injuries impact your future income potential
- Education and Skills Documentation – Proof of your qualifications and career trajectory to show what you could have earned had the at-fault party not caused you harm
- Life Impact Statements – Personal statements, and possibly statements from family or colleagues, showing how your career and daily life have changed
How Loss of Future Earning Capacity Is Calculated
Determining your loss of future earnings may sound complicated, but the system is relatively straightforward. Your attorney can do the following:
- Determine Pre-Accident Income – Collect pay stubs, W-2s, tax returns, bonuses, and benefit records to show what you earned before the accident
- Project Expected Future Earnings Pre-Accident – Use your work history, promotions, raises, industry salary data, and career trajectory to estimate what you likely would have earned in the future if the accident had never happened
- Assess Post-Accident Earning Capacity – Use medical records and vocational evaluations to determine your current ability to work and the income you can currently earn
- Calculate the Annual Loss – Subtract your realistic post-accident annual earning capacity from the projected pre-accident yearly earnings
- Consider Other Key Factors – Your attorney will multiply your annual loss by the number of working years lost adjusted for inflation, and potentially factor in other non-economic losses such as the impact on your quality of life and career satisfaction
How a Dallas Car Accident Attorney Can Help Maximize Your Compensation
A skilled Dallas car accident attorney can play a crucial role in protecting your financial future when injuries compromise your earning capacity. Your lawyer can help by doing the following:
- Evaluating Your Case – Your attorney can assess the full scope of your injuries and their impact on your future earning capacity to determine the value of your claim.
- Collecting Evidence – To prove your claim, your attorney can gather medical records, employment documents, expert testimony, and life impact statements.
- Dealing with Insurers – Insurance companies can attempt to weaken or outright deny your claim. Your attorney can protect your rights and ensure your future financial stability by handling all communications on your behalf.
- Negotiating for a Fair Settlement – Even the strongest cases require skilled negotiation. Your attorney can advocate aggressively for a fair settlement on your behalf.
- Representing You in Court – If a settlement can’t be reached, your attorney can file a lawsuit and take your claim to court, where they can fight for a favorable verdict.
Talk to Our Dallas Car Accident Lawyers Today
If a negligent driver permanently compromised your ability to earn a living, you may be entitled to compensation. The team at Kraft & Associates has proudly protected the rights of injured Texans for over 50 years, and we’re prepared to fight for you.
Our reputation is backed by a long list of heartfelt testimonials left by satisfied former clients, such as the following:
“I’d like to thank you all for assuring me since day one that you were fighting for me! I’ve dealt with other law offices before, and I can say that I definitely always felt I would be well taken care of at Kraft & Associates!”—Terri M.
You don’t need to face the stress, fear, and uncertainty of your injuries alone. Our skilled car accident attorneys are ready to lead you through the legal process and negotiate aggressively for the compensation you deserve. Call now at (214) 999-9999 or complete our contact form for your free, no-obligation consultation.
