How Much Will My Mesothelioma Lawsuit Settlement Amount Be?
Mesothelioma patients are seeking compensation for medical expenses as well as to ensure financial security for their families as well as themselves. Once victims and their lawyers find asbestos-related companies that are responsible they file a lawsuit and wait for an answer.
Many defendants settle to avoid a costly court trial and get the money into the victim's account quicker. The settlement amount can vary from case to case.
Factors that affect the amount of settlement
Asbestos-related victims typically face high medical expenses, lost wages and other financial losses as a result of their exposure to asbestos. A jury can award compensatory damages based on the plaintiff's economic losses. Certain cases in the past have resulted in awards of compensation that ranged from tens to millions of dollars. An experienced lawyer cannot provide a specific settlement amount for the client. There are many variables at play.
An experienced lawyer can help identify asbestos-related companies that are responsible and file the required paperwork to file an asbestos lawsuit. Once the complaint is filed, a legal timeline is set with deadlines that are strict for all parties who are involved.
If a defendant is found to be liable for a breach of contract, the company will usually be able to settle the case without court trial. The defendants often want to settle their claims before being exposed to negative publicity and a long trial. In addition, they may prefer to avoid the expense of litigation.
Settlements will pay compensation for unreimbursed expenses, including medical costs. It could also cover other living expenses, like transportation, or home health aides. The settlement will also pay for lost wages, including those already lost by the victim and those expected to be lost in the future.
In addition to these expenses victims also receive compensation for pain and suffering. These damages take into account the physical psychological, emotional and mental impact of asbestos-related illnesses. These damages also include the loss of enjoyment of living.
In calculating these damages an experienced mesothelioma lawyer will draw upon its knowledge of asbestos-related businesses and their past business practices to build a strong argument for the amount of compensation a victim is entitled to.
Asbestos lawyers can prepare the case of a plaintiff before a jury or judge. In states with joint and multiple liability juries will decide how much a case is worth and what percentage each defendant is responsible for the plaintiff's losses. Jurors also look at punitive damages which is intended to punish defendants for their negligence or wrongdoing. In certain cases, juries could decide to award punitive damages in the several thousand dollars.
Punitive Damages
A jury can give punitive damages if the asbestos victim can show that a business has engaged in corporate malice, or a blatant act of misconduct. These damages are meant to penalize the defendant and deter other people from engaging in similar behavior. The amount of damages is contingent on a number of factors.
The size of a company and its past performance can also affect the amount of punitive damages. The punitive damages that are awarded to larger companies tend to be higher than the ones awarded to smaller businesses.
While the amount of a settlement dependent on the particulars of each case, a few general factors can aid victims and their lawyers calculate the best possible compensation. These include:
During the investigation stage that occurs prior to filing an asbestos suit the legal team of your attorney will gather proof about the exposure you suffered and identify any liable parties. This could include a thorough review your medical records, your employment history and possible locations where you were exposed to asbestos. In most instances the legal team will identify numerous sources of asbestos exposure.
Your legal team will start a lawsuit in the state courts that are suitable for your case after the investigation has been completed. The asbestos litigation process can take an extended time, particularly in the event that your lawyer must appeal or go to the possibility of a trial. In certain cases the legal team will settle the asbestos case early in the litigation.
In recent years juries have awarded huge amounts in mesothelioma and other asbestos cases. This has prompted asbestos companies to request judicial intervention. They claim that asbestos litigation creates a fearful environment for businesses.
Despite the arguments of some asbestos lawyers judges have resisted numerous attempts to restrict asbestos litigation. However judges in New York and California have recently given asbestos defendants a boost by striking punitive damages claims that were not substantiated.
Contact a mesothelioma attorney who is experienced in asbestos cases as the first step in seeking settlement. A reputable law firm will give you a free initial consultation and answer any questions about how much you could receive in an asbestos settlement.
Compensation Damages
The amount of compensation can be affected by the monetary value of damages. Families and victims may seek compensation for medical expenses as well as pain and suffering loss of wages, and much more. They may also seek compensation for wrongful deaths for family members who died as a result of exposure to asbestos.
A knowledgeable mesothelioma lawyer can determine the best approach to negotiate with defendants for a settlement. The process begins with collecting evidence of exposure to asbestos like work and health records, and assembling the list of products that were ingested by the patient, including the date of exposure. The attorneys file the lawsuit, and conduct the discovery.
The mesothelioma defendants tend to settle due to the fear of an overwhelming verdict in the courtroom or negative publicity from a lengthy trial. This is especially true when the defendant in a mesothelioma case is a large company. It is important to note that various states require plaintiffs to prove a certain amount of negligence or wrongdoing by the defendant before they can receive compensatory damages.
If the evidence is convincing enough, a mesothelioma lawyer can negotiate with defendants to obtain the highest amount of compensation for their client. An experienced mesothelioma lawyer will evaluate the severity of the victim’s health, the financial loss they have suffered and the likelihood that the victim will not be able to recover.
It can be difficult to prove mesothelioma exposure as it occurs through inhalation and is not always obvious. In addition, it can be up to 50 years before asbestos exposure causes mesothelioma symptoms. Mesothelioma is a rare form of cancer and is caused only by asbestos exposure, so it is essential to have an experienced asbestos attorney on your side.
In certain circumstances, any or all of a mesothelioma lawsuit could be non-taxable. The IRS taxes income only if it is directly related to injury or death. An experienced mesothelioma attorney will carefully craft an argument to ensure that the majority of the award is tax-free, including compensation for emotional distress and the loss of companionship.
Case Valuation Matrix
To determine the value of their case, asbestos sufferers should speak with an attorney who has experience with mesothelioma. Lawyers can assist asbestos victims submit claims within the timeframe of the limitation period. Waiting too long could result in victims losing out on any compensation.
Asbestos lawyers understand the complicated legal procedure that is involved in filing an asbestos lawsuit and the negotiation of an agreement. West Jordan asbestos lawyers can offer their opinions on whether it is in the interest of the victim to accept an asbestos settlement offer. They can also suggest whether to take a case to trial and assist asbestos victims uncover evidence they need to support their legal claim.
Lawyers for mesothelioma patients typically ask for a sum that will cover the victim's medical costs and provide financial security for their family. When seeking compensation, they consider the diagnosis of the victim, their age and other aspects. On average, mesothelioma victims receive a settlement payout of $1 million to $1.4 million.
Victims can also receive punitive damages along with compensatory damages. These damages are intended to punish defendants who put profits ahead of the safety and security of workers and military personnel. The amount of punitive damages given is contingent upon the specific case.
The majority of asbestos lawsuits include multiple defendants. In many instances, dozens of asbestos producers are included in a single claim. In many cases, every manufacturer responsible for the victim's exposure will contribute to the final settlement sum. The more companies named, the higher the potential settlement payout for a victim.