Losing a loved one unexpectedly is a difficult situation to deal with. However, if you believe another party’s negligence caused their death, it makes the situation even harder.
If you can prove your loved one died because of this negligence and file a wrongful death claim, you can receive a settlement to help you recoup some of the financial losses you have experienced. Some of the factors considered when determining the amount of your settlement are found here.
Factors considered in wrongful death settlement calculations
Putting a monetary value on someone’s life isn’t an easy task. Because of this, a few factors will be considered when calculating an amount for a wrongful death settlement. These include:
- The deceased person’s age
- Circumstances of the death
- Their contribution to their family financially
- Expenses caused by the person’s death
- Lost benefits value
It’s important to note that it’s necessary to provide proof of the deceased person’s contribution to the family. This can be done with prior pay stubs, benefits papers and other documentation. You should also provide receipts of all costs related to their death, such as medical bills, funeral expenses and others.
Maximizing your wrongful death settlement
There are a lot of factors considered when calculating a wrongful death settlement amount. The family members of the deceased individual need to provide as much evidence and information as possible about the losses they incurred due to the death to help maximize the amount they receive.
Receiving compensation for the loss of a loved one
There’s no way any monetary award could compensate for the loss of a loved one. While this is true, the settlement received can help make up for some of the financial losses the family experiences due to this loss.