Wrongful death cases present complex legal and financial challenges. When a person loses their life due to another party’s negligence or misconduct, surviving family members often seek compensation for the various losses they have suffered. Law firms handling these sensitive cases must evaluate several types of damages—both economic and non-economic—to accurately assess the value of a claim. To do so effectively, it is often necessary to rely on qualified economic experts who can quantify losses and provide testimony grounded in accepted methodologies.

Economic Damages: Calculating the Financial Impact

Economic damages represent tangible financial losses suffered as a result of the death. These are often the most straightforward to quantify but require precision and foresight. Key components of economic damages in a wrongful death case include:

• Loss of Expected Earnings: This is often the largest component of economic damages. It involves projecting the decedent’s future earnings over their expected working life. This calculation takes into account factors such as age, occupation, work-life expectancy, wage growth, and benefits.
• Loss of Benefits: In addition to salary, the decedent may have provided health insurance, pension contributions, retirement savings, or other employment-related benefits. These must be included in the total valuation.
• Medical and Funeral Expenses: Any medical expenses incurred before death, as well as funeral and burial costs, are typically recoverable and should be documented accurately.
• Loss of Services: Family members may also suffer financial loss from the absence of household services previously provided by the deceased, such as childcare, eldercare, or home maintenance.

A thorough economic analysis often requires the services of a forensic economist who can provide a well-supported, unbiased valuation based on established economic models. This ensures that attorneys are equipped with accurate data when negotiating settlements or presenting their case in court.

Non-Economic Damages: Addressing Emotional Loss

While economic damages are grounded in financial records and projections, non-economic damages relate to the emotional and psychological suffering experienced by surviving family members. These damages are less tangible but are no less significant. They may include:

• Loss of Companionship or Consortium: This accounts for the emotional loss of a spouse or partner, recognizing the value of the relationship and the emotional void left behind.
• Loss of Parental Guidance: In cases where a child loses a parent, courts may consider the loss of love, support, nurturing, and instruction that the deceased parent would have provided.
• Emotional Distress and Mental Anguish: Family members may be entitled to compensation for the psychological trauma caused by the death. This can be especially relevant in cases involving particularly distressing circumstances.

Valuing non-economic damages can be highly subjective, but expert witnesses can play a critical role by presenting data on how such losses have been valued in similar cases, helping to establish a reasonable and just framework for compensation.

Punitive Damages: In Cases of Gross Negligence

In some wrongful death cases, punitive damages may be considered. These are not awarded to compensate the survivors but to punish egregiously reckless or intentional behavior and to deter similar conduct in the future. Punitive damages are not applicable in every jurisdiction or case, and they are typically reserved for instances involving extreme misconduct.

When punitive damages are on the table, economic experts may be asked to evaluate the defendant’s financial condition to determine an amount that would serve as an effective deterrent without being deemed excessive.

The Role of Economic Experts in Wrongful Death Cases

Given the multifaceted nature of wrongful death damages, law firms benefit greatly from the support of economic experts. These professionals provide objective analysis and testimony that help clarify complex financial issues. By leveraging actuarial data, labor statistics, and proven economic models, an expert witness can offer the court or jury a clear picture of the financial consequences of a wrongful death.

This type of expertise is essential not only for accurately valuing a claim but also for withstanding scrutiny during litigation. An economic expert can assist with preparing detailed reports, rebutting opposing opinions, and providing authoritative testimony that supports the legal strategy.

Dallas Wrongful Death Economic Experts at Thomas Roney LLC Will Help Your Case in Court

At Thomas Roney LLC, our team provides law firms with the rigorous economic analysis required to support wrongful death claims. With extensive experience assisting attorneys across the country, we offer precise, defensible evaluations of both economic and non-economic damages. Speak with the Dallas wrongful death economic experts today. Call 817-733-6333 or contact us online to schedule your free consultation. With offices in Fort Worth, Dallas, and Houston, Texas, and Atlanta, Georgia, we serve clients nationwide, including Denver, Colorado, Louisville, Kentucky, and Nashville, Tennessee.