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Negotiating a Personal Injury Settlement in California Pt 2July 26, 2019 0 Comment Category: Personal Injury
Future economic losses are a little bit harder to determine. Each case is very different when it comes to future losses, as medical attention varies from person to person, even when the injury is similar. Having a medical profession testify for you at court can be extremely helpful in this case, as they are able to see the effects your injury has on your body and they can determine the likely treatment.
Lost earring capacity calculates the difference in your future projected earnings vs. current earrings. Many factors will play into this; you will need your expected age of retirement, life expectancy, and tax returns. The state of the economy and industry will be used as well as other employees who work in the same industry who have a similar background as you when it comes to training, education, and experience.
The next step is calculating your general damages. Things that qualify as general damages include any emotional distress, physical pains, loss of companionship, mental distress, loss of reputation, and humiliation and embarrassment. General damages are known to end up being 1.5 – 5 times special damages, and this will depend on the injury itself and how severe it is.
Adjusting the Value of your Claim
The following factors will play a part in calculating your claim.
- Defendants: Is there one defendant or are there multiple defendants involve in your claim?
- Liability: Is the liability on the defendant 100% or did you play a part in the accident?
- Plaintiff Characteristics: The characteristics of the plaintiff include; occupation, likability, medical history, and age.
- Mitigating Damages: If someone opts out of treatment after an accident, and the medical expenses are now higher, this can affect their claim. The outcome for a situation like this is difficult to mitigate. During the time you are negotiating your settlement, all of this information will be used to mitigate damages so you will get the appropriate settlement.
Making your Settlement Offer
Once you have all the information you need, and you have done your calculations, you will be ready to make your offer. You will send a demand letter to the defendant, his/her lawyer, or his/her insurance provider. At this point, it is common for the back and forth negotiations to begin. The negotiation continues until both parties can reach an agreement.
During the negotiation, things can seem a little crazy and you might feel like you want to just accept the first offer to get it over with. By knowing exactly what your injury is worth, and practicing your negotiation based on the facts, you will have the confidence to continue negotiating until you have reached a settlement that is appropriate for the injuries you have endured. This is best determined by a local California personal injury lawyer.