How Much Will My Mesothelioma Lawsuit Settlement Amount Be?
Mesothelioma patients seek compensation for medical expenses and to provide financial security for themselves and their families. Once victims and their attorneys determine asbestos-related companies responsible and file a lawsuit and wait for a response.
Many defendants settle in order to avoid a costly trial and to get the money into the victim's hands faster. The settlement amount can vary from case to case.
Factors that impact the settlement amount
Asbestos exposure could result in expensive medical expenses, loss of wages and other financial losses. A jury could award compensatory damages that reflect the plaintiff's actual economic losses. In certain cases, compensation awards have reached tens or even hundreds of millions of dollars. An experienced lawyer cannot provide a specific settlement amount for a client. There are too many factors at play.
An experienced attorney will be able to determine asbestos companies that are liable and file the required paperwork for an asbestos lawsuit. After the complaint has been filed, a legal timeline begins with strict deadlines for all parties who are involved.
If the defendant is found to be liable, the company will typically resolve the matter outside of court prior to trial. The defendants are looking to settle their claims quickly to avoid negative publicity and a lengthy trial. Moreover, they may also prefer to avoid the cost of litigation.
Settlements typically include the plaintiff's financial losses, which includes any medical expenses not reimbursed. It may also cover other living expenses, like transportation, or home health aides. Finally, the settlement will cover lost wages, both those the victim has already lost and those that are expected to disappear in the future.
In addition to these expenses victims also receive compensation for pain, suffering and emotional distress. These damages are dependent on the psychological, physical and emotional effects of asbestos-related diseases. They also consider the loss of enjoyment in life.
In calculating these damages an experienced mesothelioma law firm will draw upon its knowledge of asbestos companies and their past business practices to build a strong case for the amount of compensation a victim is entitled to.
Asbestos lawyers can prepare the case of a plaintiff before a jury or judge. In states that have joint and several liability the jury will decide the worth of a case and what percentage of the responsibility for the plaintiff's losses each defendant is responsible for. Moreover, jurors will consider punitive damages, which are intended to penalize the defendant for their wrongful conduct and negligence. In some cases, a jury might decide to award tens of millions of dollars in punitive damages.
Punitive Damages
A jury may award punitive damage if an asbestos victim can show that a company has committed corporate malice or outrageous misconduct. These are meant to penalize the defendant and discourage others from engaging in similar conduct. The amount of damages imposed depends on a variety of factors.
A company's size and past records can also influence the amount of punitive damages. Larger corporations are usually more likely to receive higher damages for punitive damages than smaller firms.
The amount of compensation is highly dependent on the specific case. However there are a few factors that can help the victims and their lawyers determine the most appropriate compensation. These include:
During the investigation phase, which occurs before filing an asbestos lawyer lawsuit your legal team will gather evidence about your exposure and identify any responsible parties. This may include an extensive review of your medical records, your work history, and possible locations where you may have been exposed to asbestos. In the majority of instances, the legal team will identify numerous sources of asbestos exposure.
Your legal team will file a lawsuit in the state courts that are suitable for your case after the investigation is completed. The asbestos litigation process is lengthy, particularly if you need to appeal or go to trial. In some cases the legal team of your lawyer will agree to a settlement with asbestos and resolve the matter earlier in the litigation process.
In recent years juries have handed out large amounts in mesothelioma and other asbestos cases. This has led some asbestos companies to seek judicial intervention. They argue that the asbestos litigation system has created a climate of fear and uncertainty for business.
Despite the arguments offered by some asbestos lawyers, judges have rejected numerous attempts to restrict asbestos litigation. However judges in New York and California have recently backed asbestos attorneys defendants by striking punitive damages claims that were unsupported.
The first step to pursue an asbestos settlement is to talk with a mesothelioma lawyer which specializes in these types of cases. A reputable law firm will provide you with a free consultation and address your questions about the amount you could be able to receive as a settlement for asbestos.
Compensation Damages
The amount of compensation can be influenced by the monetary value of damages. Families of victims can seek compensation for suffering and pain, medical expenses, lost wages and more. They may also seek wrongful death compensation for family members who have died due to exposure to asbestos.
A mesothelioma lawyer can decide the best way to negotiate with defendants for an agreement. The process begins by obtaining evidence of asbestos exposure such as work and health records and compiling a list of the products that were ingested by the patient, including the date of exposure. The attorneys then begin the lawsuit and conduct the discovery.
Plaintiffs in mesothelioma cases are often willing to settle for fear of a large verdict in court or negative publicity from a long trial. This is especially true when a mesothelioma defendant is a large corporation. It is important to remember that various states require that the plaintiff demonstrate a certain amount of incompetence or wrongdoing by the defendant before they are able to be awarded compensation.
If the evidence is strong enough an attorney for mesothelioma can negotiate settlement with defendants to obtain the highest possible compensation for their client. A seasoned mesothelioma lawyer will consider the severity of the patient's condition the financial loss they have suffered and the probability that they will not be cured of 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.
In certain circumstances, any or all of a mesothelioma settlement could be non-taxable. The IRS taxes income only if it is directly related to an injury or death. A mesothelioma lawyer will design the case to ensure the majority of the money is not taxable, including compensations for emotional distress and loss of companionship.
Case Valuation Matrix
Asbestos sufferers should consult an attorney who has experience in mesothelioma cases, to determine what their case is worth. Attorneys can also help asbestos victims file claims within the statute of limitations. If victims wait too long they may miss out on a payout.
Asbestos lawyers are aware of the complex legal process of filing an asbestos lawsuit and negotiating the settlement. Lawyers can also provide opinions about whether it is in the best interest of a victim to accept or decline an asbestos settlement offer. They can also recommend whether to take a case to trial and help asbestos victims gather evidence to support their legal claim.
Lawyers for mesothelioma sufferers typically seek a payment that will cover the cost of medical treatment for the victim and provide financial security to their families. They will consider a victim's age, diagnosis and other factors when seeking compensation. On average, mesothelioma patients get a settlement payment of $1 million to $1.4 million.
In addition to compensatory damages, victims could also be awarded punitive damages. These damages are intended to punish defendants who place profits ahead of the safety of workers and military personnel. The amount of punitive damages awarded is different according to the specific case.
The majority of asbestos lawsuits name multiple defendants. In many cases many asbestos producers are named in a single claim. In many instances the settlement amount will be contributed by each manufacturer responsible for the victim's exposure to asbestos. The more companies named, the more the potential settlement payout for a victim.