When you are injured due to another party’s negligence, you may be able to recover compensation for economic and non-economic damages. Economic damages include many types of financial expenses and costs incurred due to your injury, including lost wages and loss of earning capacity.
Proving loss of earning capacity can be challenging. You need the assistance of an experienced Denver personal injury attorney to help you build your strongest case to recover maximum compensation for all your current and future damages.
What Is Loss of Earning Capacity?
Lost earning capacity is the reduction in a person’s ability to earn wages due to an injury. The injury may result in total disability, where the person can no longer work, or they may be unable to perform the same type of work and earn the same wage as before the injury.
This lost earning capacity impacts the injury victim now and possibly for the rest of their lives. Loss of earning capacity damages attempts to calculate how much the injury will cost the injured victim in the future.
How Is the Loss of Earning Capacity Calculated?
Calculating lost earning capacity is significantly more challenging than calculating lost wages and other types of economic damages. At Dan Caplis Law, our Colorado personal injury attorneys frequently collaborate with medical, vocational, and economic experts to accurately establish and value current and future economic damages, including lost earning capacity damages.
Some of the factors that impact loss of earning calculations include:
- The injured person’s profession
- The injured person’s education
- The injured person’s work history
- The injured person’s professional skills and abilities
- The type of injuries and the likelihood of recovering from those injuries
- The geographical area of the injured person’s employment
- The potential for career advancement before the injury and post-injury
- The injured person’s life expectancy
- Labor market wage rates
Based on this information, a vocational expert can calculate how much the injured person would likely have earned over the course of their working life had they not been injured, thereby determining their lost earning capacity.
How a Denver, CO Personal Injury Lawyer Can Help You
Your attorney can investigate your accident to identify all possible causes and potentially liable parties to maximize the sources of compensation to pay your damages. They can take fast action to help preserve vital evidence before it is lost or destroyed, and can help uncover evidence to prove your claim.
An experienced Colorado personal injury lawyer can collaborate with vocational, medical, and economic experts to help accurately calculate your lost earning capacity to build your strongest case and help you secure maximum compensation for your damages.
Your attorney can work to negotiate a fair settlement of your claim as quickly as possible, and when a settlement cannot be reached, they can take your case to trial to help you recover the compensation you are entitled to.
Your chances of recovering full compensation for your economic and non-economic damages are much greater if an experienced Colorado personal injury lawyer represents you.
Schedule a Free Consultation With a Dan Caplis Law Attorney
If you have been injured in an accident caused by another party’s negligence, you may be entitled to significant compensation for your economic and non-economic damages. You need the help of an experienced Colorado personal injury attorney to protect your rights and help you secure maximum compensation.
At Dan Caplis Law, we have a proven track record of winning big for our clients, and we want to help you get the justice you deserve. Call (303) 529-7059 or visit our contact page and schedule a free consultation to discuss your claim.