How is Lost Future Income Determined in Catastrophic Injury Cases in Texas?

In catastrophic injury cases in Texas, determining lost future income is a crucial aspect of calculating fair compensation for the victim. This process involves a complex analysis of various factors to ensure that the injured party receives adequate financial support for the impact of their injury on their ability to earn a living in the future. If you or a loved one suffered a catastrophic personal injury in Texas, a qualified lawyer may be able to assist you.
As a former Judge, Attorney Hatton at The Hatton Law Firm PLLC has a comprehensive understanding of the law in Texas, especially when it comes to personal injury cases. With such a well-qualified attorney on your side, you can feel more confident pursuing the compensation you believe you are owed related to your catastrophic injury.
Assessing the Impact of the Injury on Future Earning Ability
When determining lost future income in Texas catastrophic injury cases, one of the key factors considered is the impact of the injury on the victim’s future earning ability. This involves assessing the extent to which the injury has affected the person’s ability to work and earn a living in the long term. Factors such as the nature and severity of the injury, the individual’s occupation, and their earning history are taken into account to calculate the potential loss of future income.
Projection of Future Earnings
Another crucial aspect of determining lost future income in catastrophic injury cases is projecting the victim’s future earnings. This involves analyzing various factors such as the injured person’s age, life expectancy, occupation, education, and earning potential to estimate the amount of income they would have earned if not for the injury.
Consideration of Inflation and Cost of Living
When calculating lost future income in catastrophic injury cases, inflation and cost-of-living adjustments must be considered. This ensures that the compensation awarded to the victim takes into account changing economic conditions over time. By factoring in inflation and cost-of-living adjustments, the calculated amount of lost future income is adjusted to reflect the true value of the victim’s future earning capacity.
Contact Our Katy, TX Catastrophic Injury Lawyer
If you or a loved one has suffered a catastrophic injury that will affect your future earning ability, a trained attorney is ready to ensure you receive maximum compensation for that and any other damages you have suffered. Contact the skilled Fort Bend County, TX catastrophic injury attorney with The Hatton Law Firm PLLC for legal assistance. Call 713-840-6344 for a free consultation.









