How Much Will My Mesothelioma Lawsuit Settlement Amount Be?
Mesothelioma patients seek compensation for medical expenses and to provide 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 a response.
Many defendants settle in order to avoid costly court trials and to get the money in the hands of the victim quicker. The amount they settle for can vary from case to case.
Factors That Affect the Settlement Amount
Asbestos-related victims typically face high medical expenses in addition to lost wages and financial losses as a result of their exposure to asbestos. A jury can award compensatory damages dependent on the plaintiff's financial losses. In certain cases the compensation awarded has reached hundreds or even tens of millions of dollars. No lawyer with experience can provide a specific settlement amount for a client. There are too many variables at play.
An experienced lawyer will be able to determine asbestos-related companies that are responsible and file the paperwork required for a lawsuit against asbestos. Once the complaint has been filed, a legal timetable starts with strict deadlines for all parties who are involved.
In most cases, if a defendant is found liable, a settlement will be reached outside of the court prior to trial. Defendants are looking to settle their claims quickly to avoid negative publicity and a long trial. They may also wish to avoid the costs of litigation.
Settlements usually provide the plaintiff's financial loss, including any medical expenses not reimbursed. It could also cover living costs such as transportation or home health aides. Finally, the settlement will pay for the loss of wages, both those that the victim has already lost and those expected to be lost in the near future.
In addition to these expenses, victims receive damages for pain and suffering. These damages are based on the physical, emotional and psychological impact of asbestos-related diseases. These damages also include the loss of enjoyment of living.
In calculating these damages an experienced mesothelioma lawyer will use its knowledge of asbestos-related companies and their past business practices to build a strong argument for the amount of compensation a victim is entitled to.
Asbestos lawyers can be prepared for the plaintiff's case before a jury or judge. In states with joint and several liability, the jury will determine the amount a case is worth and how much each defendant is accountable for the plaintiff's losses. Jurors also look at punitive damages which is intended to punish the defendants for their negligence or wrongdoing. In certain cases juries may award punitive damages of several thousand dollars.
Punitive Damages
A jury may award punitive damage if an asbestos victim can show that a company committed corporate malice or has committed a scandalous act. These damages are designed to punish the defendant, and deter others from engaging in similar behavior. The amount of the damages is based on a variety of factors.
The size of the company and its past performance may also impact the amount of punitive damage. The punitive damages given to larger corporations tend to be greater than the ones awarded to smaller businesses.
The amount of compensation awarded is highly dependent on each case. However there are a few elements that can assist the victims and their lawyers calculate the best amount of compensation. These include:
In the investigation stage that occurs prior to filing an asbestos suit Your legal team will gather proof about your exposure and identify any responsible parties. This may include a thorough examination of your medical records, your employment history and possible locations where you were exposed to asbestos. In most instances, the legal team will identify several sources of asbestos exposure.
Once the investigation is concluded, your legal team will submit your case to the state court system that is most suitable to your particular case. The asbestos litigation process is long, particularly in the event that you need to appeal or go to trial. In some cases, the legal team will settle the asbestos case early in the litigation.
In recent years, juries awarded huge sums of cash in mesothelioma cases as well as other asbestos-related cases. This has led asbestos companies to seek an intervention from the courts. They claim that the asbestos litigation system creates an atmosphere of anxiety and uncertainty for business.
Despite the arguments of some asbestos attorneys judges have resisted numerous attempts to limit asbestos litigation. Judges in New York and California recently have sided with asbestos defendants striking punitive damages claims that were unsubstantiated.
The first step in pursuing an asbestos settlement is to consult with a mesothelioma law firm that is specialized in these kinds of cases. A reputable law firm will give you a free initial consultation and answer your questions about how much you could receive from an asbestos settlement.
Compensation Damages
The value of compensation damages can be a significant aspect in the amount of an asbestos settlement. Victims and families can seek compensation for medical expenses or suffering and pain, lost wages, and more. They may also seek wrongful death compensation for family members who have passed away due to exposure to asbestos.
A mesothelioma lawyer who is skilled can help determine the best method to negotiating with defendants in settlement. The process begins by obtaining evidence of exposure to asbestos such as health and work records and compiling an inventory of the products that were exposed to the patient, as well as the date of the exposure. The attorneys then begin the lawsuit and conduct discovery.
In mesothelioma lawsuits, defendants are often willing to settle in fear of a verdict that is high or negative publicity when the case goes to trial. This is particularly true when a mesothelioma defendant is a large company. However, it is important to know that various states require a certain asbestos poisoning lawsuit degree of proof of negligence and misconduct on the part of the defendant to allow the plaintiff to be awarded compensation.
If the evidence is strong enough the mesothelioma lawyer may make settlement negotiations with the defendants in order to get the most possible compensation for their client. An experienced mesothelioma lawyer will take into account the severity of the condition of the victim, their financial losses and the possibility 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.
Based on the circumstances, a portion or all of a mesothelioma lawsuit could be non-taxable. This is because the IRS generally tax income only if it is directly connected to death or injury. A mesothelioma lawyer will carefully craft the case to ensure the majority of the award isn't tax-deductible, including compensations for emotional distress and loss of companionship.
Case Valuation Matrix
To determine the worth of their case, asbestos patients need to consult an attorney with experience with mesothelioma. Lawyers can also help asbestos victims make claims within the statute of limitations. If victims wait too long they may not be able to claim on a payout.
Asbestos attorneys understand the complex legal process involved in filing an asbestos lawsuit, and reaching an agreement. Lawyers can offer their opinions on whether or not it is in the best interest of the victim to accept an asbestos settlement offer. They can also help decide whether or not to go to trial and help asbestos victims with gathering evidence to support their legal claim.
Lawyers for mesothelioma sufferers typically seek a payment that will cover the victim's medical costs and provide financial security to their family. When requesting compensation, they'll take into consideration the diagnosis of the victim, their age and other factors. On average, mesothelioma victims receive a settlement payout of $1 million to $1.4 million.
In addition to compensatory damages, victims can receive punitive damage awards. These damages are intended to penalize defendants who put profit over the security and safety of workers and military personnel. The amount of punitive damages awarded varies according to the specific case.
In the majority of asbestos cases, there are multiple defendants. In many cases several asbestos producers are named in a single claim. In most cases the final settlement amount will be paid by each manufacturer who is responsible for the victim's exposure to asbestos. The more companies named, the greater the chance of a victim's settlement payout.