Proving Lost Wages in Personal Injury Claims

Accidents often result in injuries that require a long time to recover. Common injuries like broken bones or torn ligaments may mean hospital stays, leading to lost wages from missed work. More severe injuries, such as spinal cord or head trauma, could lead to permanent disability, preventing you from working again and causing loss of future earnings.

This drop in income can affect your financial security, making it tough to cover medical bills and support your family. Our Missouri auto accident lawyers at Cofman Townsley can assist you in filing a claim for lost wages as part of your personal injury settlement.

What Are Lost Wages as Part of a Settlement?

When your auto accident injuries cause you to miss work, you can seek various types of compensation, including lost wages. These can include the following:

• Salary or Hourly Wages: Compensation for the regular income you missed while unable to work

• Overtime: Includes any additional income lost from overtime you would have worked

• Bonuses and Commissions: Covers loss of expected bonuses or commissions during the recovery period

• Sick and Vacation Days: Accounts for any sick or vacation days you had to use while recovering

• Other Benefits: The value of lost job perks or benefits, like health insurance or retirement contributions

• Future Earnings: Compensation for the loss of earning capacity if your injuries prevent you from returning to your previous job or career

Documenting Lost Wages and Compensation

To prove you lost wages, you need several pieces of documentation. Your attorney at Cofman Townsley can help you obtain the following to show the total amount of lost wages you are entitled to as part of your claim:

• Employment Records: Documents like employment contracts and job descriptions establish your work role and responsibilities.

• Pay Stubs: Recent pay stubs show your regular income, including overtime, bonuses, or commissions.

• Tax Returns: Your latest tax returns demonstrate your annual earnings and substantiate your claimed losses.

• Doctor’s Notes and Medical Records: Medical documentation links your injury to your inability to work.

• Timeline of Recovery: We can help create a timeline detailing your injury, treatment, recovery period, and how it affected your work capabilities.

What if You’re Self-Employed or Have Variable Income?

Calculating and proving lost earning potential can be more complex if you have variable income or are self-employed. Unlike fixed salaries, these types of income fluctuate, making it harder to determine exact lost earnings.

Here are a few ways we can help you demonstrate your losses:

• Analyze Previous Year’s Earnings: We can review tax returns and financial statements from previous years and compare them with your income following the accident.

• Business Records: We can gather and present detailed records of invoices, client contracts, and billing statements to prove your income.

• Industry Standards: We can consult economic experts who can testify to industry averages for similar work or project potential earnings based on market trends.

• Impact of Injury on Business Operations: We can use witness testimony from family or employees and personal journal entries to show how the injury directly affected your ability to manage your business.

Challenges in Claiming Future Earnings

Projecting your future lost wages if you suffer long-term or permanent disabilities can present unique challenges for your personal injury case. To assess these losses accurately, your legal team must carefully analyze your career trajectory, including potential promotions, raises, and skill development opportunities you will miss.

Your attorney must also consider inflation and changes in the job market to project future earnings. This typically requires expert financial calculations and occupational analysis to present a convincing case.

At Cofman Townsley, our team can collaborate with financial experts to develop a detailed projection of your potential earnings, considering the full extent of your losses. We fight to secure a settlement that truly reflects the long-term financial impact of your disability and provides you with the support you need for the future.

Get Fair Wage Compensation With Cofman Townsley

Losing out on your paycheck due to an injury caused by another party can leave you financially vulnerable. Whether it’s a few days of missed wages or the impact of a long-term disability on your future earnings, our experienced attorneys can help.

We have the skill and network needed to accurately assess your loss and help you win a recovery award that pays for all your damages after a crash. Contact us today for a free consultation to discuss your case.