How Much Will My Mesothelioma Lawsuit Settlement Amount Be?
Mesothelioma patients are seeking compensation for medical expenses and also to provide financial security for themselves and their families. After the victims and their attorneys find asbestos-related companies liable, they file a suit and wait for a response.
Many defendants settle to avoid costly trials and to get the money in the hands of the victim faster. The amount they settle for varies from case to case.
Factors that influence the settlement amount
Asbestos-related victims typically face high medical expenses as well as lost wages and other financial losses resulting from their exposure to asbestos. A jury may award compensatory damages dependent on the plaintiff's financial losses. Some historic cases have resulted into awards of compensation of tens of millions of dollars. However, no experienced lawyer can guarantee a specific settlement amount for a particular client. There are far too many variables at play.
An experienced lawyer will be able to determine asbestos companies that are accountable and file the necessary paperwork for a lawsuit against asbestos. After the complaint is filed the legal timeline starts with strict deadlines that must be followed by all parties involved in the case.
In most cases, if a defendant is found liable to pay a fine, a settlement is reached outside of the court prior to trial. The defendants want to settle their claims quickly to avoid negative publicity and a lengthy trial. Moreover, they may also want to avoid the expense of litigation.
Settlements include compensation for any not reimbursed expenses, such as medical costs. They may also include living expenses such as transportation or home health aides. The settlement will also cover the loss of wages, which includes those already lost by the victim and those predicted to be lost in future.
In addition to these costs, victims also receive compensation for pain, suffering and emotional distress. These damages are based on the psychological, physical and emotional effects of asbestos-related ailments. They also factor in the loss of enjoyment in life.
In calculating the damages, a reputable mesothelioma law firm will use its knowledge of asbestos companies and their business practices in the past to build a strong case for the amount of compensation that a victim deserves.
Asbestos lawyers can prepare to present the plaintiff's argument before a judge and jury. In states with joint and several liability the jury will decide the worth of a case and what percentage of the loss of the plaintiff each defendant bears. Jurors also take into consideration punitive damages, which is meant to punish the defendants for their wrongful conduct or negligence. In certain cases juries may be able to award punitive damages that range from hundreds of thousands of dollars.
Punitive Damages
If an asbestos victim is able to prove that a company engaged in corporate malice or outrageous infractions, the jury may award punitive damages. These are designed to punish the defendant and discourage others from engaging in similar conduct. The amount of damages imposed depends on a variety of variables.
The size of a company and its past performance can also affect the amount of punitive damages. Larger corporations are generally more likely to pay higher punitive damage awards than smaller businesses.
While the amount of a settlement dependent on the particulars of each case, a few general factors can help victims and their lawyers determine the most appropriate amount of compensation. These include:
In the investigation stage which is the stage prior to filing an asbestos lawsuit, your legal team will gather evidence about your exposure and determine any responsible parties. This may include an exhaustive review of your medical records, your work history and potential locations where you could have been exposed to asbestos. In the majority of cases, the legal team will identify numerous sources of asbestos exposure.
After the investigation is completed, your legal team will file your lawsuit in the state court system that is most suitable to your particular case. The asbestos litigation process could take an extended time, particularly if your lawyer needs to appeal or go to an appeal. In some instances your legal team may reach an agreement with asbestos and resolve the matter earlier in the litigation process.
In recent years juries have awarded huge sums in mesothelioma and other asbestos cases. This has led asbestos companies to seek an intervention from the courts. They argue that the asbestos litigation system has created a climate of fear and uncertainty for business.
Despite the arguments of some asbestos attorneys judges have resisted many attempts to limit asbestos litigation. Judges in New York and California recently agreed with asbestos defendants, striking unsupported punitive damages claims.
Consult a mesothelioma lawyer who is specialized in asbestos cases to take the first step in pursuing an agreement. A law firm that is qualified can provide you with a no-cost initial consultation and answer any questions about how much you could receive from an asbestos settlement.
Compensation Damages
The amount of compensation awarded can be affected by the financial value of the damages. Families and victims of asbestos may seek compensation for medical expenses, pain and suffering loss of wages, and much more. They may also seek compensation for wrongful death for family members who have died as a result of asbestos exposure.
A mesothelioma lawyer will determine how to deal with defendants in a settlement. Abilene asbestos lawsuits begins by collecting evidence of asbestos-related exposure, like medical and work records, and assembling an inventory of products that the patient was exposed to. The attorneys initiate the lawsuit and conduct discovery.
In mesothelioma lawsuits, defendants are typically willing settle out of fear of a verdict that is high or negative publicity when the case goes to trial. This is particularly so when the defendant in a mesothelioma-related case is a large business. But, it's important to be aware that different states require a certain degree of proof of negligence and wrongdoing on defendant's part in order for the plaintiff to receive compensation.
If the evidence is solid enough, a mesothelioma attorney can negotiate with the defendants to secure the highest amount of compensation for their client. A mesothelioma attorney with experience will assess the severity of the patient's medical condition, the financial losses they have suffered and the likelihood that the patient is not 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.
Based on the circumstances, some or all of a mesothelioma settlement can be non-taxable. The IRS tax income only if it is directly linked to death or injury. A mesothelioma lawyer with experience will carefully plan the case to ensure that the most of an award is not tax-deductible which includes 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 expertise with mesothelioma. Lawyers can also help asbestos victims make claims within the statute of limitations. If victims wait too long they may miss out on compensation.
Asbestos attorneys understand the complex legal process involved in filing an asbestos lawsuit, and the negotiation of an agreement. Lawyers can also offer opinions on whether it is the best option for a victim to accept or decline an asbestos settlement offer. They can also advise whether it is best to go to trial and help asbestos victims in gathering evidence to prove their legal rights.
Lawyers for mesothelioma sufferers typically seek a payment that will pay for medical expenses and provide financial security to their families. When seeking compensation, they'll take into account the patient's diagnosis, age and other factors. Mesothelioma sufferers typically receive a settlement of $1 million to $1.4 million.
Victims can also receive punitive damages along with compensatory damages. These damages are designed to punish defendants who put profits ahead of the security and safety of military personnel and employees. The amount of punitive damage is determined by the specific case.
The majority of asbestos lawsuits mention multiple defendants. In many cases, dozens of asbestos producers are included in a single claim. In many instances, each manufacturer that is responsible for a victim's exposure will contribute to the final settlement sum. The more companies named, the greater the chance of a victim's settlement payout.