You may be eligible for wrongful death compensation for the losses you suffered as a result of the death of a loved one. These losses could include both monetary and intangible items such as medical bills, burial expenditures, friendship loss, and pain and suffering. Other penalties may be recoverable, such as punitive damages, lost inheritance, lost future wages, and lost pay today.
The amount of a wrongful death settlement depends on a variety of things, including who was to blame for the accident, the applicable insurance policy limitations, whether the driver was at work when the collision occurred, and the decedent’s wage before the accident.
A Wrongful Death Settlement’s Payment
When a wrongful death action is resolved, the responsible party or their insurance provider must pay you the agreed-upon sum. You can get the compensation in one of these two ways:
1. Structured Settlement
If you choose a structured settlement payout, you receive consistent, continuous payments according to a predetermined timetable. These payments typically occur once a month. With a structured settlement, it takes longer to receive all of the money owing to you, and you might not be able to repay your debts as quickly as you would want.
2. Lump-sum payment
When you get a lump-sum payment, you get all the damages you’re due at once. The settlement agreements cover all monetary and non-monetary damages. Any significant expenses, such as medical and legal fees, can be paid in full with a lump sum payment rather than being postponed or incurring interest. The expedited receipt of money and obligation payback are other benefits it provides.
The party who was at fault decides your wrongful death lawsuit’s settlement amount. A large insurance company is better equipped to make a lump sum payment than a lone driver who needs time to acquire the money to cover the wrongful death damages.
Factors That Can Affect a Wrongful Death Settlement
We consider a wide range of variables that may influence the value of your wrongful death claim. There is no cap on the number of damages a jury may award in a wrongful death claim in California, unlike in other jurisdictions.
The following are some of the most frequent factors that may affect your case value:
- Age of the victim;
- The deceased’s total number of minor children at the time of death;
- The little children’s age;
- How much of the victim’s financial support does the victim’s spouse needs;
- Circumstances leading up to the accident; and
- Whether the deceased had a strong sense of community.
Who Pays the Award for Wrongful Death Cases?
Although each situation is different, the at-fault party’s insurance usually has to pay damages in a wrongful death case. Even when insurance companies pay settlements on behalf of their policyholders, they only pay up to the maximum amount of the insurance policy. Frequently, that level is insufficient to pay for all the losses incurred in the case. Additionally, insurance companies work to minimize payments or demonstrate that their insured was not at fault for the death.
For these reasons, you must hire a respected and skilled criminal death attorney to win a wrongful death case and receive total compensation.
Contact KAASS LAW Experienced Wrongful Death Attorney Today.
It can be challenging and time-consuming to calculate a settlement amount because it involves extensive research and negotiation. Without the help of a wrongful death attorney, it is possible to accept a paltry offer from the other party’s insurance company to get over your loss. Your wrongful death attorney can help you navigate the process and ensure you get a fair and complete settlement. Wrongful death cases are one of our many fields of expertise. Call 310-933-5171 to talk with one of our knowledgeable attorneys.