Anytime an individual in Kentucky sustains an injury caused by the actions of another person, business, or entity, they should be able to recover compensation for their losses. When most people think of injury claims, they think of recovering payments for medical expenses. However, individuals can also recover compensation for any wages they lose if they cannot work while recovering or if they are disabled and can no longer work at all. Here, we want to discuss how lost wages are calculated for a Kentucky personal injury claim.
If you sustained an injury caused by someone else, there is a good chance you will not be able to work while you recover. This can create a significant financial burden for individuals and the injury victim’s family members. All too often, individuals who sustain injuries caused by others are unable to pay regular household expenses.
Regardless of whether or not an individual is paid hourly or by salary, there are various types of documents that can substantiate levels of income. This includes, but is not limited to, the following:
You should be able to recover lost wages for the entire time you are away from work while recovering from your injury.
Calculating lost income can become more challenging if an individual sustains a disability and cannot work for an extended period of time or an injury that keeps them from working permanently. All of the same types of documentation listed above will help substantiate a permanent loss of income claim, but there are additional steps that must be taken. At this point, it is strongly advised that individuals work with a skilled personal injury attorney in Lexington who can help them with their claim.
An attorney can use their resources to enlist assistance from trusted economic and financial experts. Some of the factors that will go into determining permanent lost income claims include the age of the injury victim, how many years they would have worked until retirement, any expected regular increases in salary, expected promotions that would have occurred, any expected bonuses, lifetime benefits from an employer, and more.
Even if an injury victim is able to return to work, there is a chance that they may not be able to earn the same level of income that they earned before the injury occurred. This could be due to a disability and having to work a different type of job altogether. In these cases, victims should be able to recover replacement income to match the level of income they lost as a result of the incident. For example, if an individual used to earn $20 an hour but can now only work a job that pays $15 an hour, they should be able to recover compensation to make up for that additional $5 an hour.
Self-employed individuals, including independent contractors, should also be able to recover compensation for their lost wages. Individuals in these circumstances may have to submit 1099 forms, correspondence from clients, invoices, bank statements, and receipts to show lost income.