How Much Will My Mesothelioma Lawsuit Settlement Amount Be?
Mesothelioma patients are seeking compensation for medical expenses and to provide financial security for themselves and their families. When the victims and their lawyers find asbestos-related companies at fault, they file a suit and wait for a response.
Many defendants choose to settle to avoid a costly court trial and to get the money in the victim's hand faster. The amount of settlement varies from case to case.
Factors that Affect the Settlement Amount
Asbestos exposure could result in high medical costs, lost wages, and other financial losses. A jury could decide to award compensation that reflects the actual economic loss suffered by the plaintiff. Some historic cases have resulted in awards of compensation in the tens of millions of dollars. An experienced lawyer cannot provide a specific settlement amount for clients. There are many variables that are at play.
An experienced lawyer will be able to identify asbestos companies that are liable and file the necessary paperwork for an asbestos lawsuit. After the complaint has been filed, a legally-binding timetable is set with deadlines that are strict for all parties involved.
If a defendant is found to be liable and liable, the company is likely to be able to settle the case without court trial. Defendants often want to resolve their disputes before they are exposed to negative publicity and a drawn-out trial. They may also wish to avoid the costs of litigation.
Settlements provide compensation for any non-reimbursable expenses, including medical costs. It could also cover living expenses like transportation and home health aids. Finally, the settlement will pay for the loss of wages, both those that the victim has already lost as well as those forecast to be lost in the future.
In addition to these costs, victims also receive compensation for pain, suffering and emotional distress. These damages are based on the physical, psychological and emotional impact of asbestos-related diseases. They also consider the loss of enjoyment from life.
In calculating the damages, an experienced mesothelioma lawyer will draw upon its knowledge of asbestos-related companies and their historical business practices to build a strong case for the amount of compensation a victim deserves.
Asbestos attorneys can prepare for the plaintiff's case before a jury and judge. In states with joint and several liability the jury will decide the amount a case is worth and what percentage each defendant is accountable for the plaintiff's damages. Moreover, jurors will consider punitive damages, which are meant to penalize the defendant due to their incompetence and wrongdoing. In some instances, juries could be able to award punitive damages that range from tens of thousands of dollars.
Punitive Damages
If an asbestos victim can prove that a company engaged in corporate malice, or even a blatant infractions, the jury may decide to award punitive damages. These damages are designed to penalize the defendant and discourage others from engaging in similar behavior. The amount of damages is contingent upon a variety 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 those given to smaller businesses.
While the amount of a settlement dependent on the particulars of each case, a few general elements can help victims and their lawyers determine the best compensation possible. These include:
In the investigation stage, which occurs prior to filing an asbestos lawsuit 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 cases your legal team will identify multiple sources of exposure.
Once the investigation is concluded, your legal team will file your lawsuit in the state court system that is best suited to your particular case. The asbestos litigation process can be lengthy, especially in the event that you need to appeal or go to trial. In certain cases, your legal team will negotiate an asbestos settlement and resolve the issue earlier in the litigation process.
In recent years, juries awarded large sums of money in mesothelioma cases and other asbestos-related cases. This has led asbestos companies to seek legal intervention. They argue that the asbestos litigation system creates a fearful atmosphere for businesses.
Despite the arguments offered by asbestos lawyers, judges have rejected numerous attempts to limit asbestos litigation. Judges in New York and California recently agreed with asbestos defendants, rejecting claims for punitive damages that were not supported.
Contact a mesothelioma attorney who is specialized in asbestos cases as the initial step to pursuing a settlement. A qualified law firm can offer a free initial consultation and answer 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 the damages. Families of the victims may seek compensation for pain and suffering, medical expenses, lost wages and much more. They may also seek compensation for wrongful death for family members who have died due to exposure to asbestos.
A mesothelioma lawyer can determine the best way to negotiate with defendants for a settlement. The process begins by obtaining evidence of asbestos exposure like work and health records, and assembling a list of the products that were exposed to the patient, along with the date of the exposure. The attorneys initiate the lawsuit and conduct discovery.
Plaintiffs in mesothelioma cases are usually willing to settle in order to avoid a huge verdict in the courtroom or negative publicity from a lengthy trial. This is asbestos injury lawyer particularly so when the defendant in a mesothelioma-related case is a large business. It is important to keep in mind that various states require plaintiffs to prove a certain amount of negligence or wrongdoing committed by the defendant before they can be awarded compensatory damages.
If the evidence is solid enough, a mesothelioma attorney can negotiate with defendants to secure the most favorable settlement possible for their client. A seasoned mesothelioma lawyer will take into consideration the severity of the patient's condition the financial loss they have suffered and the probability that they will not recover from the disease.
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.
A mesothelioma settlement may be tax-free in certain situations. The IRS taxes income only when it is directly connected to an injury or death. An experienced mesothelioma attorney will carefully prepare the case to ensure that the maximum amount of the award is tax-free and includes the compensation for emotional distress as well as the loss of companionship.
Case Valuation Matrix
Asbestos sufferers should consult a lawyer who is experienced in mesothelioma cases to determine how much their case may be worth. Lawyers can also help asbestos victims to file claims within the timeframe of limitations. If victims wait too long they may miss out on a payout.
Asbestos attorneys understand the complex legal procedure involved in filing an asbestos lawsuit and negotiating an agreement. Lawyers can also give opinions on whether it's in the best interest of a victim to accept or decline an asbestos settlement offer. They can also suggest whether to take a case to trial and assist victims find the evidence they require to prove their legal claims.
Mesothelioma lawyers usually request an amount sufficient to cover the victim's medical expenses and provide financial security to their family. They will consider a victim's age, diagnosis and other factors when asking for compensation. Mesothelioma sufferers typically get a settlement payment of $1 million to $1.4 million.
Victims also have the option of receiving punitive damages in addition to compensatory damages. These damages are designed to punish defendants for placing profits ahead of the security of employees and military personnel. The amount of punitive damage is determined by the particular case.
In the majority of asbestos cases, there are multiple defendants. It is typical for one claim to cover several asbestos producers. In many instances, each manufacturer that is responsible for the victim's exposure will contribute to the final settlement amount. The more companies named, the greater a victim's potential settlement payout.