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Compensation For Lost Income

Lawyers help their clients to receive the maximum possible amount of money as compensation for lost income. A Personal Injury Lawyer in Waterloo understands the multiple factors that fall under the label of “lost income.”

The time slots that get considered during a determination for a claimant’s lost income

Each slot represents a lost financial opportunity, such as any missed work opportunities, in addition to time missed while the recovering worker was undergoing treatments. That would include any slot that had represented the worker’s potential sick leave or vacation time. While recovering from his or her injury, the injured worker had been forced to use up the hours in that particular time slot.

Documents that can help an accident victim to prove lost income

Employees with a boss should ask that same boss to write a letter. A letter from the personnel office can substitute for a letter from the employer. A self-employed man or woman should consider gathering several documents, in order to see which of them satisfies the defense attorney. Those documents would include evidence for payment of taxes in previous years, an accountant’s books, proof of profits enjoyed in the past, before the accident, and proof of payments made to creditors.

How to approach the issue of potential lost income

There are 2 ways that a working employee might be forced to deal with a reduction in his or her expected income. One way would involve a forced early retirement. A client that has been forced to retire early for medical reasons should work with a lawyer to learn as much as possible about the average working lifetime for someone with that same client’s medical problem.

It could be that a certain activity expected of the employee had aggravated his or her medical condition. If a lawyer could prove that to be true, then the employer could be charged with depriving the worker of potential income. Of course, it is also possible that the early retiree had performed a particular task for multiple employers. Moreover, that could be the task that had forced the early retirement.

Forced operations can also be source of lost potential income. An employee that relies on an implanted device might need to undergo periodic operations. The consequences from such operations can vary, depending on a company’s policies.

Ideally, the time spent recovering from surgery would be covered under the company’s short-term disability coverage. Still, there is always the chance that an employee might require surgery soon after starting a new job. When that is the case, the necessary surgery would probably not be covered. How long would it take to recover? Would that be longer than the employee’s sick leave? If so, potential income would disappear.