How do judges and juries determine the value of economic loss?
Economic loss is based on the facts brought forward to determine what burial, funeral and medical expenses resulted from the death and what the deceased would have earned or accumulated had he/she lived a normal life span. This is often a very complex calculation. The courts take into consideration the age of the deceased, the condition of the deceaseds health prior to the accident, his/her earning capacity and prospects for earning at the time of death. They will try to determine what kind of assistance and services he/she would have rendered to the family, the age and needs of the children and many other factors including the wealth he/she might have accumulated during a normal life span. It is important for the survivors lawyer to make the caseoften with the help of expert witnesseson verifiable economic losses to the family.
