Numerous circumstances can lead to a family tragedy. People may die due to criminal activity, such as a robbery at the business they manage. Car crashes, unsafe property conditions and defective products can also lead to tragic outcomes.
Those who recently lost a loved one have many issues they likely need to address. They have to arrange for a funeral for their loved one and cover those expenses, which can easily exceed $10,000. They have to find ways to process their grief. They also have to consider the financial consequences of their family tragedy.
In addition to covering burial costs and paying for any medical care the deceased family member received before their passing, the family also has to consider the loss of their income. Especially when the person who died was the primary wage earner or the sole working individual in the household, the loss of their income can be a major setback.
How do families replace lost income after a tragedy?
Families in Florida may have the option of pursuing wrongful death litigation after a loved one dies. Typically, wrongful death lawsuits are only an option in cases where there is evidence of either misconduct or negligence causing the death of an individual.
Such lawsuits can lead to compensation for the full economic impact of the tragedy. Surviving family members can seek lost wages and income in addition to requesting reimbursement for funeral costs, medical expenses and other costs directly associated with their loved one’s death. In fact, families can request not just the base wages an individual may have earned but future lost earning potential.
Many people eventually qualify for raises and advancement opportunities. The wages they may have earned 20 years in the future could be far higher than what they earned at the time of their passing. Families also need to account for their employment benefits. Losing health insurance and other benefits can be a substantial financial setback.
Those dealing with grief may have a hard time trying to quantify the impact that a tragedy could have on household finances. They may need help estimating lost wages and determining a reasonable amount of compensation to pursue if they take the matter to court. Insurance coverage frequently falls far short of the value of a lifetime of lost income and employment benefits. Filing a wrongful death lawsuit can potentially lead to more thorough compensation and can help families cover basic expenses when the primary wage earner for a family dies prematurely.