FUTURE LOST INCOME STREAM IN A UTAH WRONGFUL DEATH CASE.
When your loved one has died due to the fault of another, one large aspect of your losses are future lost income from the deceased. Meaning, had they lived, they would have continued to produce income in their occupation over their career until retirement. This is called a lost stream of income and is recoverable in a Utah wrongful death case.
Here is how lost future income can be calculated and captured in a Utah wrongful death case:
(1). Past Earnings. Past base earnings of the deceased are calculated from tax returns, paystubs or other income statements and indicators.
(2). Vocational Rehab Expert. An expert witness, called a vocational rehabilitationist is hired to project out the expected career path of the deceased, over their life expectancy. For example, if the deceased worked in construction and was 38 years old, that person may be expected to work another 25 years at an increasing hourly rate. United States social security administration life expectancy charts can be used.
(3). Economist. An economist is hired to reduce the lost income stream to present value for the jury to consider. 1 million dollars today is not worth 1 million dollars in 30 years.
The lost future income stream can be a very large part of your Utah personal injury claim. If it is not calculated expert witnesses, the insurance company will not give the proper value to your death claim. You must hire an Utah wrongful death law firm that has the financial capability to hire the best experts. This costs money and not every small, internet advertising solo attorney can afford it.