New York residents may be entitled to long-term injury compensation if they are the victim of an accident that resulted in lost earning capacity. It isn’t at all uncommon for serious injuries to result in career limitations or income losses, which can result in a larger settlement. However, you will need to understand what counts as lost earning capacity and how you can prove this when you file your claim.
How Serious Injuries Limit Employment Opportunities
The long-term effects of a serious injury can go far beyond what you may expect, especially when it comes to your employment opportunities. Here are some examples of how serious injuries can impact and limit your future employment and career options:
- Physical limitations: The most obvious limitation you may experience after a serious injury is new physical limitations. You may not be able to perform physically demanding jobs, or you may not be able to work for long hours at a time.
- Cognitive limitations: Depending on the type of injury, you may also experience cognitive limitations. This can make it difficult to perform more technical jobs, or it may make it difficult to concentrate for long periods of time.
In addition to these limitations, you may no longer be able to perform your previous job-related duties. And for more serious injuries, you may not be able to perform the same line of work at all, which would result in you needing to change careers.
Understanding Lost Wages vs. Lost Earning Capacity
Lost wages and lost earning capacity are often used interchangeably, but they do not mean the same thing. This is an important distinction you will need to understand when you pursue a serious injury settlement.
Lost wages usually signifies temporary lost income while you receive medical treatment or go through recovery. Whereas lost earning capacity is usually permanent, encompassing new limitations on your ability to work or your employment opportunities.
How to Prove Future Financial Losses
To get the personal injury settlement that you deserve, you need to prove the extent of your financial losses. And although this can come with challenges, there are a few things you can use to support your claim:
- Vocational rehabilitation expert testimonies
- Doctor’s notes
- Statements from economic experts
- Medical tests and scans
You should also work closely with a personal injury attorney in New York who can help you locate the necessary evidence to prove your future financial losses.
Get In Touch With a Personal Injury Attorney in New York
The financial impact of a serious injury in New York is something that goes far beyond the initial medical bills. In many cases, a serious personal injury can result in lost income and lost earning capacity, substantially impacting your future finances.
This is why a successful reduced earning potential lawsuit is so important, as it can help you recover more compensation to make up for what you have lost.
If you are ready to move forward with your personal injury claim, contact us today at Gash & Associates, P.C., in New York, at 914-328-8800 for a free consultation.
