Wrongful Death Attorneys in Myrtle Beach

Learn more about your situation by calling us today at (843) 357-6454. 

Understanding Economic Damages in Wrongful Death Claims

1. Future Lost Income:
This category of damages is meant to compensate for the income the deceased would have earned had they not passed away. It includes:

• Projected Salary: Calculations are based on the deceased’s current salary and projected raises or promotions. This may involve estimating future earnings over their expected working life.
• Bonuses and Incentives: Compensation may also include any bonuses, commissions, or other incentives that the deceased would have received.
• Other Financial Benefits: This can encompass benefits such as stock options, profit-sharing plans, and any other forms of financial compensation tied to the deceased’s employment.

2. Loss of Financial Support:
This type of damage compensates for the financial contributions the deceased made to their family, including:

• Household Expenses: Contributions towards daily living expenses, such as rent or mortgage payments, utilities, and groceries.
• Education Costs: Financial support for the education of children or other dependents, including tuition, school supplies, and extracurricular activities.
• Other Financial Responsibilities: This includes support for medical expenses, childcare, and any other financial needs that the deceased’s contributions would have covered.

3. Loss of Benefits:
Compensation for the benefits that the deceased provided, which may include:

• Health Insurance: Value of health insurance coverage provided by the deceased’s employer or personal policy, which the family will now need to cover themselves.
• Retirement Benefits: Value of retirement benefits such as pension plans or 401(k) contributions that would have accumulated and been available to the family.
• Pension Plans: Any defined benefit pension plans the deceased was entitled to, which may affect the surviving spouse or beneficiaries.

Exploring Non-Economic Damages in Wrongful Death

1. Loss of Consortium:
Compensation for the intangible aspects of the relationship between the deceased and the surviving spouse or partner, including:

• Companionship: The emotional support and companionship that the surviving spouse or partner would have continued to enjoy.
• Affection: The physical and emotional affection provided by the deceased, which is now absent.
• Emotional Support: The loss of the daily emotional support that the deceased provided, which can affect the surviving partner’s mental well-being.

2. Loss of Parental Guidance:
Compensation for the impact on minor children who have lost the guidance and nurturing of their parent, including:

• Emotional Support: The support and love that a parent provides, which contributes significantly to a child’s emotional development.
• Guidance and Mentorship: The loss of a parent’s guidance in making important life decisions and providing life lessons.
• Nurturing: The everyday nurturing and care that a parent offers, which is crucial for a child's upbringing and development.

3. Loss of Inheritance:
Compensation for the value of the estate or inheritance that the deceased would have left behind, including:

• Future Inheritance: The potential future value of the deceased’s estate, including property, savings, and other assets.
• Estate Planning: Value of any estate planning documents, such as wills or trusts, that would have benefited the heirs.

Key Considerations for Your Wrongful Death Claim

1. Calculating Economic Damages:
The calculation of future lost income and financial support typically involves complex formulas and may require expert testimony from financial analysts or actuaries to ensure accuracy.

2. Evaluating Non-Economic Damages:
Assessing non-economic damages like loss of consortium and parental guidance often involves subjective evaluations and may include testimony from family members and experts in psychology or social work.

3. Importance of Legal Representation:
To maximize your compensation for both economic and non-economic damages, it is crucial to work with a knowledgeable wrongful death attorney who can help gather necessary evidence, negotiate with insurance companies, and advocate for your rights in court.

Learn more about your situation by calling us today at (843) 357-6454.