Economic Damages
Economic damages form the backbone of most wrongful death settlements and include tangible financial contributions that the deceased would have provided had they lived. These can include:
- Lost wages and benefits: This includes the deceased’s expected earnings until retirement or natural death. Calculations often consider the deceased’s age, career trajectory, and health at the time of death.
- Medical expenses: Any costs incurred due to the incident leading to death that are not covered by personal insurance must be accounted for.
- Funeral and burial costs: These immediate expenses are also recoverable under Missouri law.
Non-Economic Damages
Non-economic damages are subjective and less tangible but equally significant. They recognize the emotional and relational losses suffered by the survivors:
- Loss of companionship and comfort: Compensation for the emotional distress and loss of familial relationships due to the death.
- Pain and suffering of the deceased: If the deceased endured pain and suffering before succumbing to their injuries, compensation might be considered.
Punitive Damages
In cases where the defendant’s actions are deemed intentional or grossly negligent, Missouri courts may award punitive damages. These are not meant to compensate the family but rather to punish the wrongdoer and deter similar future conduct.
Calculating the Settlement
The process involves compiling all economic losses, estimating non-economic damages, and sometimes negotiating punitive damages. Each category requires careful documentation and expert testimony. Economists, actuaries, and medical experts often provide essential insights into the valuations.
Several factors can influence the final settlement amount in Missouri, including:
- The age and health of the deceased: Younger victims with longer expected lifespans generally result in higher economic damages.
- The defendant’s conduct: More egregious conduct can lead to higher punitive damages.
- Insurance policy limits: Settlements often depend on the coverage limits of the defendant’s insurance policy.
Discuss Your Case with Expert Attorneys
At Holder Susan Slusher, LLC, we understand the profound impact of losing a loved one due to negligence or misconduct. For over 20 years, our experienced attorneys have helped many families receive the compensation they deserve to aid in their financial and emotional recovery. If you have lost a loved one and believe you may have a wrongful death claim, contact us today at 573-499-1700.
