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Calculating Loss of Future Earnings Potential After an Accident

Seth Harris

Last modified on August 9, 2023

Loss of Future Earning PotentialThe impact of a serious injury extends far beyond immediate medical expenses. Often, the consequences extend well into the future. They affect a victim’s ability to work and reduce their long-term earning potential. The person to blame for the injury should be financially responsible for all its consequences, including this lifetime reduction in earnings. In this blog, the attorneys with Harris Keenan & Goldfarb explain the concept of loss of future earning potential. They explore its legal implications and describe how a skilled personal injury attorney can help navigate this complex issue.

What Does ‘Loss of Future Earning Potential’ Mean?

Loss of future earning potential refers to an injured person’s decreased capacity to earn income due to their accident-related injuries. This is a significant component of personal injury cases. It covers the financial impact that a person may face in the future. The loss could stem from a reduced ability to work, limited work opportunities, or the need for job retraining.

Is There a Limit on Compensation for Lost Future Earnings?

In New York, there is no statutory cap on the amount that can be awarded as compensation for loss of future earnings in personal injury cases. However, it’s not a blank check. The plaintiff must provide substantial evidence to demonstrate that the injuries sustained will limit their earning capacity in the future. The court then determines a reasonable compensation based on the plaintiff’s age, occupation, skills, experience, and life expectancy. Furthermore, a defendant’s ability to pay could limit the amount a plaintiff can recover for lost future earnings.

How Do You Calculate Lost Future Earnings?

Calculating lost future earnings requires careful examination and consideration of many different factors. Here are key elements that are taken into account:

  • Pre-Accident Income: The starting point is the individual’s earnings before the accident. This helps establish a baseline for future calculations.
  • Projected Income Growth: Experts consider the likely growth of the individual’s income over their working years. This often includes potential promotions, raises, and career advancements that the individual could have reasonably expected.
  • Severity and Longevity of the Injury: The nature of the injury, its severity, and its expected duration are crucial factors. These will determine how much the injury may limit the individual’s ability to earn in the future.
  • Expert Testimony: Medical professionals and occupational analysts often provide testimonies to support the assessment of the injured individual’s future earning capacity.
  • Inflation and Present Value Consideration: The final figure for lost future earnings must be adjusted for inflation. It also needs to be adjusted to its present value, as a dollar today is worth more than a dollar in the future.

Considering all these factors makes it possible to determine a fair and accurate estimate of lost future earnings. A skilled personal injury attorney can help in this complex process, seeing that all relevant factors are considered, and your rights and interests are adequately represented.

How a Lawyer Can Help You Recover Compensation

Recover CompensationThe assistance of a personal injury lawyer is indispensable in pursuing compensation for lost future earnings. Here’s how a lawyer can assist you in this process:

  • Evidence Collection: They can gather and present convincing evidence, including medical records and expert testimonies, to prove your reduced future earning capacity.
  • Engaging Experts: Your lawyer can collaborate with economists and vocational experts to accurately calculate your lost future earnings so that all crucial factors are considered.
  • Understanding of Legal Complexities: They possess extensive knowledge of personal injury law and related areas, helping them anticipate potential issues and head them off beforehand.
  • Negotiation Skills: Attorneys are adept at negotiating with insurance companies and opposing counsel. They can effectively represent your interests, advocating for the compensation you deserve.
  • Litigation Support: If negotiations don’t yield satisfactory results, a personal injury lawyer can represent your case in court, where they will argue in front of a judge and jury that you deserve to be compensated appropriately.

A severe injury can leave your future financial security at stake. A personal injury lawyer can help you demand the full compensation you deserve after an accident that impacts your earning potential.

Don’t Leave Money on the Table – Contact a Personal Injury Lawyer Today

If you or a loved one has suffered an injury that could potentially impact your future earning capacity, do not hesitate to seek professional legal advice. A seasoned personal injury lawyer with Harris Keenan & Goldfarb can guide you through this complicated process, helping you demand fair compensation for your immediate expenses and your loss of future earning potential. Contact us today, by phone or online, to get started with your consultation.

Over $500 Million in Verdicts and Settlements

Our track record showcases over $500 million won for our clients. Each victory underlines our commitment to justice and client care. Explore our impact, case by case.

VERDICT

$17,500,000

A Brooklyn jury awarded Mr. Vargas $17.5 million for the City of New York’s violation of his civil rights for failing to provide him medical care while in custody. The jury found that the police officers involved failed to provide the necessary medical treatment and awarded $17.5 million to Mr. Vargas.

VERDICT

$4,730,398

Harris Keenan & Goldfarb partners Seth Harris and Sheri Holland obtained a $4,730,398.00 jury verdict on behalf of our client who tripped and fell at a private apartment building in the Bronx, suffering a broken foot that developed a very painful, permanent neurological condition called Reflex Sympathetic Dystrophy (“RSD”).

VERDICT

$12,561,772

A Bronx jury awarded John Doe over $12 million for an accident on a construction site. John Doe was working when a piece of scaffold weighing 35 pounds fell, striking John Doe in the lower back. John Doe suffered a herniated disc requiring surgical removal of a portion of the disc and permanent nerve damage.

VERDICT

$10,500,000

A Bronx jury awarded $10.5 million to the mother of Malcolm Ferguson, who was wrongfully shot and killed by the New York City Police Department. The police officer, Louis Rivera, also a defendant in the case, was found to have used excessive force in violation of Malcolm Ferguson’s civil rights as protected under the United States Constitution.

VERDICT

$4,000,000

A Bronx jury awarded plaintiff William Cardoza $4 million for injuries caused by the use of excessive force during an arrest. During the arrest, Mr. Cardoza was pepper-sprayed and repeatedly hit with a police nightstick. As a result, Mr. Cardoza sustained injuries to his hand and finger.

VERDICT

$3,470,670

The firm’s client, a 33-year-old teacher’s assistant, was scalded by an espresso machine that exploded while the defendant’s employee was demonstrating how the machine worked. The client was a customer at the defendant’s coffee shop on the date of the accident and suffered first-degree burns to her right (dominant) hand.

VERDICT

$4,000,000

The firm represented the mother- decedent and her infant son. During the decedent’s admission to the defendant hospital, the defendant dispensed anesthesia during an epidural to the decedent in an inadequate manner. The mother-decedent suffered personal injuries and wrongful death due to the defendant’s failure to properly administer epidural anesthesia.

VERDICT

$3,823,000

Mr.Brennan fell from approximately 25 feet while working on a construction project. He suffered a shattered bone in his right leg requiring surgery and hardware placement. Mr. Brennan also suffered two fractures in his facial bones, and a dislocated finger requiring surgical repair.

VERDICT

$2,750,000

The firm’s client was a child with cerebral palsy who was injured as a result of medical malpractice. The firm’s clients claimed improper management of pregnancy, labor, and delivery resulting in brain damage, and received a Brooklyn personal injury settlement.

VERDICT

$1,677,835

The firm’s client, a 63-year-old mentally incompetent man, slipped and fell in his own urine while attempting to walk to the bathroom at the defendant’s senior citizen home. The client fractured his hip and as a result is confined to a wheelchair for the rest of his life. The client claimed that the staff of the home failed to properly care for him, and the jury awarded $1,677,835.

VERDICT

$2,995,000

The firm’s client, a 47-year-old male, slipped and fell on a public sidewalk in the Bronx. It had snowed four to five days prior to the date of the accident, and the sidewalk was covered with ice. The client suffered a lumbar fracture and a herniated disc. The jury found the city liable and awarded the client a $2,995,000 personal injury settlement in the Bronx.

VERDICT

$2,610,000

A Bronx jury awarded plaintiff Luis Molina $2.61 million for injuries sustained when he fell down a subway station stairway. Mr. Molina was caused to slip and fall as a result of a plastic bag that had blown onto the steps from a street opening. As a result of the fall, Mr. Molina suffered a herniated disc and a tear of his right shoulder’s rotator cuff. The jury found that the NYC Transit Authority was liable for the accident.

VERDICT

$2,253,714

A Bronx jury awarded Ms. Colon $2.25 million for a trip and fall accident. Ms. Colon was caused to fall when she moved to the right to allow another pedestrian to pass, and her foot rolled to the outside due to the sidewalk being unlevel with the adjoining grass. The jury found the defendant liable and awarded Ms. Colon $2,253,714.00 for her pain and suffering.

VERDICT

$1,900,000

A Brooklyn jury awarded Arvella Floyd $1.9 million for a fractured wrist which required multiple surgeries, including an open-reduction internal fixation and a carpal tunnel release. Ms. Floyd was injured when the hot water knob of the shower fell off after numerous complaints to the superintendent, and scalding water spewed toward her, causing her to
fall and break her wrist.

VERDICT

$1,350,000

A Bronx jury awarded plaintiff Juanita Young $1,350,000 for injuries caused by the use of excessive force during an arrest. During the arrest, Ms. Young, who is legally blind, was handcuffed from behind, with her children watching, and taken to the top of the stairs to exit the building. The officer proceeded to push her down the stairs multiple times.

What Our Clients Say About Us

Marie L. TheodoreMarie L. Theodore
17:23 01 Nov 24
It was a great experience I had with HKG.I had ask for answers to my problem and I had it answered happily.
Bee EzBee Ez
06:45 20 Oct 24
As a client, you want to go to a place where you're treated like a human and not a dollar sign, highly professional, and accommodating.
Maria HawthorneMaria Hawthorne
03:33 18 Oct 24
I give these lawyer's excellent and the staff they been my lawyer's for years and I advise if anyone needs a lawyer this is the best place to go to I've been with them for many years ty so much 💓 for my settlement MR HARRIS AND HIS STAFF AND HIS PARTNERS THIS IS NUMBER ONE LAW FIRM ❤️
Arianna LewisArianna Lewis
21:47 07 Oct 24
Jason EstradaJason Estrada
13:56 04 Oct 24
Thank you Jennifer for the best treatment that you gave me as a professional and I will recommend the lawyers to the entire world, thank you a million.
Lawrence TylerLawrence Tyler
18:54 17 Sep 24
Thank you to Thierry and Blake for this awesome settlement!!
Diane IversonDiane Iverson
14:28 13 Sep 24
I received excellent service with my case. Christine was a big help in sharing the information that was needed to receive a motive outcome. Great job!
CBUMGMT IncCBUMGMT Inc
13:33 29 Aug 24
Dear Alison, Toni, and Team,Thank you so much for recovering my injury case from 9 years ago that was dead in the water since the company went bankrupt and there was nothing else to do. Miraculously, you resurrected my case and was able to get a settlement which completed for me the horrific accident and the suffering I endured because of it. HK&G makes miracles happen by getting the job done and seeing that justice is served. Thank you so much.Susan C.
Sharon ThorpeSharon Thorpe
15:12 15 Aug 24
I went to Harris Keenan &Goldfarb on 2020 for a slip and fall. This firm was very concerned about my needs. Took my case and awarded me more money than I expected. I love Criistina she went out her way for me so many times.. Beautiful paralegal. Also Mr. Edward, I will forever thank him for his services, keeping me updated on my case. I give this law firm 5 stars.
arien machicotearien machicote
20:55 17 Jul 24
I must say I am extremely happy and amazed at the incredible work at Harris, Keenan & Goldfarb they were always available if I had any questions and they were always answered very professionallyJason Steinberg is a great lawyer Donna and Terry were always very professional and kind I will always highly suggest this law firm and team to anyone out their. Thank you again to everyone at this incredible Firm!!!
Cole ColdwaterCole Coldwater
19:36 20 Jun 24
My experience with Harris Keenan and Goldfarb was wonderful. My legal representative, Steven LaRocca with Samantha Walton always made me feel well defended and cared for, in a way that went beyond professional representation and into the realm of caring about me on a personal level. Steven, Samantha and Seth Harris got me a great outcome and I can’t thank them enough!
Jennifer RosarioJennifer Rosario
14:16 05 Jun 24
The best law firm I have ever went with thank you so much
david Santiagodavid Santiago
18:05 21 Mar 24
Maria RoqueMaria Roque
20:49 15 Mar 24
Excellent person, very Professional, they assist you in any language, your call is always answered. I recommend you for any case of support you have, your refund is satisfactory. and fast
S SS S
14:09 02 Mar 24
I am completely satisfied, and recommend Harris Keenan & Goldfarb as Attorneys to represent anyone. Their care for me physically, and overall helped me stay strong in spite of my injuries. Always available to answer questions, and inform.They got me Justice, and achieved a substantial outcome for my case.I am very impressed, and thankful for their outstanding performance on my behalf.I am very pleased, and significantly satisfied with their representation.‐-Sherylon Wilkins
Robert LennonRobert Lennon
15:26 21 Feb 24
Patient and diligence is how I describe the effort of HKG the work was thorough, honest and fair, I have no complaints. Special thanks to attorney Blake and his paralegal Thierry.
Gene Matos (fanboye)Gene Matos (fanboye)
18:48 15 Jan 24
I first crossed paths with Seth Harris when serving jury duty many years ago. He was so professional and personable, that when my mom was seeking legal counsel for medical malpractice, I told her she had to reach out to his firm. We had meetings with a few different firms, but Harris Keenan & Goldfarb was the only firm that did not try to get us to sign paperwork before even meeting. They took the time to listen and understand our situation before we signed anything, and they were transparent and responsive the whole time. I would like to give special thanks to Samantha Walton, Marla Stein, Val Wallace and Seth Harris for helping my mom through this tough time. They were honest and upfront, and even though Seth Harris wasn't personally on the case, he took the time to meet with us and give us his thoughts on it.
Solange IsaacSolange Isaac
17:52 08 Jan 24
I am pleased with the services provided by Ms Sheri on my case. The team at Harris, Keenan, & Goldfarb were very nice and explained everything to me. Everything that I had questions on they answered without frustration and were prompt and knowledgeable.6 years ago I had a slip and fall accident at my employers place of business. I reached out to them because I knew that I was being wrongfully treated. They took care of the case, restored my self confidence, and brought so much peace to my problem riddled life.I can recommend without a shadow of a doubt the services of Harris, Keenan & Goldfarb to anyone who is in need of someone who will have your back!
Brittany DempseyBrittany Dempsey
16:02 08 Jan 24
My mother had an accident with her ankle back in 2019. I immediately contacted Harris, Keenan & Goldfarb on the day of the accident. They were extremely prompt and helpful. They attended to my mother's case beautifully and she's been recovering well. I'd like to thank you for being so diligent, kind and above all professional. I'd recommend this law firm to anyone who are injured and in need of legal assistance. My mother, Andrea, and I thank you for everything.
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