In Texas, What Is a ‘Loss of Future Earning Capacity and How Does It Apply to Injury Cases?
A loss of future earning capacity refers to a person’s ability to earn as much as you did before your injuries following an injury. If an injury prevents someone from earning income in the future, it is also considered a “loss of future earning capacity”.
At D. Miller & Associates, PLLC, our lawyers understand a loss of “future earning capacity” and how it applies to personal injury cases. If someone else caused your accident, we help assess a fair value for your losses. We then try to hold the at-fault party responsible. We help personal injury victims across Texas fight for the compensation they deserve. Call us at 713-850-8600 for a free consultation with a personal injury attorney.
How Does Loss of Future Earning Capacity Differ From Lost Wages?
Loss of future earning capacity and lost wages are two separate types of damages. Lost wages include income that was lost due to time off work. In most cases, this refers to a specified period of time, such as recuperation time after an accident. We calculate these damages based on a number of factors including the amount of work missed and the income lost during that time.
A loss of future earning capacity, on the other hand, covers the future income-earning abilities you can no longer use due to the injuries you sustained. This amount can be difficult to assess because it is based on estimates of what you would have earned without your injuries. It is also important to note that we assess this amount based on the loss of your ability to work, not necessarily on the loss of your future wages.
Am I Eligible for Compensation for a Loss of Future Earning Capacity?
If you suffered personal injuries that have affected your ability to work, you may have a loss of future earning capacity. Sometimes, personal injuries can result in major life changes. If these life changes prohibit your ability to work, it is possible to seek compensation for your loss of future earning capacity.
For example, if you suffered a traumatic brain injury in a car crash, your injuries may be permanent. If you can no longer work because of your brain injury, you may qualify for money for a loss of future earning capacity.
Usually, you must meet two criteria to qualify for this type of compensation:
- Your doctor must reasonably expect that your injuries are permanent; and
- Your injuries have an impact on your employment capability.
What Documents Do I Need to Support a Loss of Future Earning Capacity Claim?
It is important that we provide evidence to support your claim. Not all personal injuries include a loss of future earning capacity. The following documents can be helpful in determining your loss of future earning capacity:
- Medical records;
- Expert testimonies from physicians and employment professionals;
- Past W-2s and income earning statements;
- Documentation showing a decrease in income following the injury;
- Documentation of your age, health, education, and job outlook; and
- Job descriptions that list the tasks your injury prevents you from completing.
If you are self-employed, you might still be able to qualify for this type of compensation. In these cases, we may ask for additional documentation, such as:
- Business registration documents describing the nature of the business;
- Income and profit records of the business;
- Medical records indicating your inability to complete tasks you need to complete.
- Testimony from witnesses explaining why you are not able to maintain your business.
How Can a Lawyer Help Me?
Our attorneys can assist you with your loss of future earning capacity claim in the following ways.
We Offer Complimentary Consultations.
A complimentary consultation gives us the opportunity to get to know you and learn more about your case. Because each case is different, it is important that we evaluate the different features of your circumstances. We can also answer any questions you have about what to expect going forward with the legal process.
We Know How to Establish Permanency and a Loss of Future Earning Capacity.
Establishing a loss of future earning capacity is a complex process. It can be difficult to determine exactly how much income you are likely to lose due to the injuries you sustained. Instead of focusing on lost wages, it is important to focus on the damages involved in a loss of ability to earn. An important part of the process is gathering necessary documentation.
We will also gather the documentation needed to establish that your injuries are permanent. By demonstrating permanency, we can show that your future ability to earn income will be significantly lower than what it would have been if the accident had not occurred.
How Can I Start Working With Personal Injury Attorney?
Suffering a personal injury can significantly impact your life. It can affect your ability to earn an income. You deserve compensation for your loss of future earning capacity. D. Miller & Associates, PLLC, can help you hold the at-fault party responsible for these and other damages. Call us at 713-850-8600 for a free attorney consultation.
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