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Completing Paperwork For Your Personal Injury Case

Injured On The Job? Here's What You Need To Know About Calculating Lifetime Expenses For Filing A Catastrophic Injury Claim

21 February 2023

Christopher Wilson

If you've recently been severely injured on the job to the extent that you'll likely be unable to work for the rest of your life, you're probably thinking that you'll be able to count on your employer's insurance policy to provide for you and your family. However, unless you file a catastrophic injury lawsuit against your employer, you may not get the compensation you need to take care of your financial needs and those of your spouse and children. 

Calculating lifetime expenses is a crucial step in filing a catastrophic injury claim against your employer. Here's how to calculate lifetime expenses to file a catastrophic injury claim against your employer:

Gather Medical and Financial Records

The first step in calculating lifetime expenses is to gather medical and financial records related to your catastrophic injury. This can include medical bills, hospitalization costs, rehabilitation expenses, and lost wages. You should also gather any other financial documents that may be relevant to your claim, such as tax returns, bank statements, and credit card statements.

Estimate Future Medical Expenses

Estimating future medical expenses is a crucial step in calculating lifetime expenses. You should consult with medical professionals to determine the expected costs of future medical treatment, including medications, physical therapy, and rehabilitation. It's important to estimate these expenses as accurately as possible, as they can have a significant impact on your claim.

Estimate Future Lost Earnings

Estimating future lost earnings is another important step in calculating lifetime expenses. You should consult with a financial expert to determine the amount of income you would have earned if not for your catastrophic injury. This can include both actual and potential earnings, and it's important to take into account any promotions or raises you may have received if not for your injury.

Factor in Other Expenses

In addition to medical expenses and lost earnings, you should also factor in other expenses that may be associated with your catastrophic injury. This can include the cost of home modifications or medical equipment, as well as any expenses related to long-term care or assisted living facilities.

Calculate the Total Cost

Once you have estimated all the relevant expenses, you can calculate the total cost of lifetime expenses associated with your catastrophic injury. This can be a complex process, and it's important to consult with an experienced catastrophic injury attorney to ensure that you have accounted for all relevant expenses.

For more information, contact a company such as The Brogdon Firm.

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