Summary
In this episode, Zinda Law Group CEO and founder, Jack Zinda talks about how to account for lost wages in your personal injury case
Discussed in this Episode:
Loss of earning capacity
Accurately interview your client
What limitations were caused by the injury?
What is the duration and worth of the harm?
The loss of earning capacity worksheet
Loss of Earning Capacity
Though commonly referred to as “lost wages”, loss of earning capacity is more than just being unable to work while disabled. If you’re well-educated on this subject, there are many other ways to claim loss of earning capacity.
Accurately Interview Your Client
Loss of earning capacity means more than just your current job. When interviewing your client, ask about school, further education or other ways that the client intended to increase their earning potential. If they no longer have the means, capability to work in that field, or are delayed, there may be an additional dollar amount associated. In addition to future earning capacity, don’t forget about simple things like overtime. Even if they received PTO during their injury, they are still able to retrieve lost earnings.
What Limitations Were Caused by the Injury?
It’s not just about manual labor when it comes to limitations at work due to an injury. Many people work with computers in office settings and something as small as an inability to type will qualify.
What is the Duration and Worth of the Harm?
This is where age can play a large factor in how much a defendant can be liable for. This may be the time to talk with an economist and a vocational rehab expert to help get the initial figures.
The Loss of Earning Capacity Worksheet
This is where you start compiling numbers and putting together a final number. Other things to look for when calculating include: quarterly or yearly bonuses, tax returns, other work amenities like insurance and retirement funds. This is also the time you’ll want to compile physical evidence like W-2 forms, tax documents, a lost wages verification form, an employer statement and a doctor’s note.
You can reach Jack at:
jack@zindalaw.com
512-246-2224