Losing a loved one is difficult, and when it happens, it can cause your whole world to come undone. Besides the loss you are facing, you may have concerns about finances and the impact of the loss on your children or other members of your family. Fortunately, families of victims of wrongful deaths may pursue compensation for losing a loved one.
It is not easy to place value on a human life.
Almost any monetary value will not seem like enough. Unfortunately, courts need to know how to value a life for the purpose of wrongful death claims. Courts often make this determination with a number of factors in mind.
Traditionally, courts determine the value of a wrongful death claims by calculating the amount of money the deceased person would earn and potentially provide to surviving family members. Courts consider the income of the deceased at the time of his or her death as well as the average work to life expectancy. The process of determining value through this method is known as valuation by human capital or a pecuniary loss rule.
Some courts also factor non-economic losses for claims related to wrongful death. Non-economic loss includes suffering and pain before death, loss of companionship and other loss unique to each situation. Non-economic losses are not always awarded because it is hard to measure in these kind of cases. An experienced attorney can help you understand and pursue wrongful death claims against a negligent party.
Contact Merdes Law Office, P.C. to meet with our highly experienced Alaskan personal injury attorney to discuss your case: 907.452.5400 or visit www.merdes.com. And while we hope you never need us… We’re here if you do.
Source: Cornell University Law School Social Science and Law, “Victim Compensation and Wrongful Death Damages“
