When a family loses a loved one due to someone else’s negligence, no amount of money can truly compensate for their loss. However, a wrongful death settlement can provide a measure of justice and financial stability for the surviving family members. One of the most common questions we hear from our clients is, “How much is our case worth?” The answer is complex, as every case is unique. However, understanding how wrongful death settlements are calculated in Georgia can help you have a clearer picture of what to expect.
In Georgia, a wrongful death claim is intended to compensate the surviving family members for the “full value of the life of the decedent.” This is a broad concept that includes both the economic and non-economic aspects of the person’s life. The experienced Georgia wrongful death lawyers at Chance, Forlines, Carter & King have a deep understanding of how to value these claims and a proven track record of securing substantial settlements for our clients. This blog post will break down the key components of a wrongful death settlement in Georgia.
The Two Components of the “Full Value of Life”
Georgia law divides the “full value of the life of the decedent” into two main components:
1. The Economic Value
The economic value of a person’s life is the tangible, financial contribution they would have made to their family if they had lived. This is calculated by looking at a variety of factors, including:
•Lost Wages and Benefits: This is the amount of income the person would have earned over the course of their expected lifetime, including salary, bonuses, and commissions. It also includes the value of any benefits they would have received, such as health insurance, retirement contributions, and stock options.
•Loss of Services: This includes the value of the services the person provided to their family, such as childcare, housekeeping, home maintenance, and financial management.
To calculate the economic value of a life, your attorney will work with a forensic economist. This expert will analyze the deceased person’s age, health, education, work history, and other factors to project their future earning capacity. This is a complex calculation that requires a deep understanding of economic principles and a thorough analysis of the available data.
2. The Non-Economic Value
The non-economic value of a person’s life is the intangible, personal value that they brought to their family. This is often the most significant component of a wrongful death settlement, but it is also the most difficult to quantify. It includes the loss of:
•Companionship and Society: The loss of the love, affection, and companionship that the person provided to their family.
•Care and Comfort: The loss of the care, comfort, and guidance that the person provided.
•Consortium: In the case of a deceased spouse, the loss of the marital relationship.
There is no formula for calculating the non-economic value of a life. It is up to the jury to decide what is fair and just based on the evidence presented. An experienced wrongful death attorney will use a variety of methods to demonstrate the profound impact that the loss has had on the family. This can include testimony from family and friends, photographs and videos of the deceased person, and expert testimony from a psychologist or grief counselor.
The Separate Estate Claim
In addition to the wrongful death claim for the “full value of life,” Georgia law allows for a separate claim to be brought by the personal representative of the deceased person’s estate. This “estate claim” seeks to recover damages that the deceased person themselves could have claimed if they had survived. These damages include:
•Medical Expenses: Any medical bills incurred between the time of the injury and the time of death.
•Funeral and Burial Expenses: The reasonable costs of the funeral and burial.
•Pain and Suffering: Compensation for any conscious pain and suffering that the deceased person endured before they died. This can be a significant component of the estate claim, especially if the person was aware of their injuries and suffered for a period of time before passing away.
Any compensation recovered in the estate claim is paid to the estate and is then distributed to the heirs according to the deceased person’s will or, if there is no will, according to Georgia’s laws of intestacy. An experienced Georgia wrongful death attorney will ensure that both the wrongful death claim and the estate claim are properly filed and pursued to maximize the total compensation for the family.
Frequently Asked Questions About Wrongful Death Settlements
Q: Is there a cap on wrongful death damages in Georgia?
A: No. Unlike some other states, Georgia does not have a cap on the amount of damages that can be awarded in a wrongful death lawsuit. The amount of compensation is determined by the jury based on the evidence presented.
Q: How long does it take to get a wrongful death settlement?
A: The timeline for a wrongful death case can vary widely depending on the complexity of the case and the willingness of the insurance company to negotiate a fair settlement. Some cases can be settled in a matter of months, while others may take a year or more to resolve, especially if a trial is necessary.
Q: Are wrongful death settlements taxable?
A: In most cases, the compensation received in a wrongful death lawsuit is not considered taxable income by the IRS. However, there are some exceptions, so it is important to speak with a qualified financial advisor about the tax implications of your settlement.
Get the Compassionate and Experienced Legal Help You Deserve
Calculating the full value of a human life is a complex and sensitive task that requires a deep understanding of Georgia law and a compassionate approach. If you have lost a loved one due to someone else’s negligence, you should not have to bear the financial burden alone. The dedicated wrongful death lawyers at Chance, Forlines, Carter & King have the experience, resources, and commitment to fight for the justice and compensation your family deserves. We will handle all the legal complexities so you can focus on healing. Contact us today for a free and confidential consultation to learn more about your legal options. Call us at 404-760-7400 or fill out our online contact form to get started.