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The term wrongful death refers to accidents in which a death occurred due to someone else’s negligence. While no amount of money can truly make up for the death of a loved one, family members or the deceased’s executor can file a lawsuit to pursue compensation. Little Rock wrongful death settlements can be complicated, as the legal process involves strict deadlines, evidence requirements, and settlement negotiations. An experienced wrongful death lawyer could help clients navigate the system for the best possible outcome.
Arkansas allows two types of wrongful death claims: an estate claim and a family claim.
The decendent’s personal representative or executor may file an estate claim to recover financial damages associated with the fatal injury or illness. Possible damages may include the following:
The claim may also seek to recover medical expenses and compensation for the victim’s reduced quality of life suffered before death.
Surviving family members may be entitled to compensation for the loss of their loved ones. Damages for this type of claim could include the following;
The wrongful death compensation or settlement amount for pain and suffering goes directly to the Little Rock family for distribution.
Wrongful death compensation should be proportional to the earning power and financial capabilities of the deceased. Calculating a fair settlement requires financial planners, economic experts, and others with the ability to forecast future needs. The following factors may be included in their assessment:
The deceased’s age and health from the foundation for determining how long the deceased would have lived. Experts may look at medical history and lifestyle, as well as the average life expectancy, to determine how to calculate the settlement.
Experts also examine the deceased’s education, training, and former employment to assess earning potential. They will start with the deceased’s most recent income and extrapolate earnings for their life expectancy. The loss of benefits such as retirement plans or healthcare coverage can also be factored into earning potential.
If the deceased was a parent or guardian, they likely had dependents who may experience financial instability after the loss. The age of the dependents and their current needs are therefore calculated in wrongful death settlement amounts in Little Rock. Adult children typically require less financial support than children who need assistance until they are 18.
Settlements should allow recovery of documented economic losses, such as medical expenses or in-home care, before death.
In rare cases, the courts may even award punitive damages for egregious behavior that resulted in a wrongful death. It is important to note that punitive damages are taxable. According to the current tax code, compensatory damages are not. A wrongful death attorney and a tax accountant could assist families with gathering the necessary documentation to establish compensatory damages.
Although Arkansas does not cap wrongful death compensation, the courts require documentation to support the proposed settlement. Wrongful death attorneys use experts to help calculate life expectancy, earning potential, and dependent needs. They then use that information as they negotiate the best possible settlement. Our attorneys are also prepared to litigate a wrongful death claim if an out-of-court settlement is not possible.
The process of claiming Little Rock wrongful death settlements can be overwhelming as family members struggle with grief. Contacting an experienced wrongful death attorney can ease the stress that surviving families face. Call our office today to learn more.