Loss of Future Earning Capacity After a Texas Motorcycle Crash

Future Earning Capacity Texas Motorcycle Crash

Understanding Compensation for your Motorcycle Crash

After any wreck, there are a whole bunch of unknowns.  After a Texas motorcycle crash, those unknowns are only compounded.  The severity and impact of the wreck go far beyond the crash itself.

How long will it take to heal?

When will I emotionally recover?

Will I be able to return to work?

Will I still have a job after I recover?

These questions, and more, will go through any victim’s head as they try to figure out what happened, what went wrong, and what to expect going forward.  Let’s take a look at what the Car Crash Captain has to say about motorcycle crashes in Texas, and the loss of future earning capacity.

What is Loss of Future Earning Capacity?

Texas does not cap the amount you can recover for economic damages – these are damages that can be tallied and accounted for.  Some of those damages are the amount of income you lose out on because you’re not able to work.  That can be if you are out of work for a week, a month, or the rest of your life.

Future earning capacity is your capacity to earn money in the future.  As many financial advisors will tell you, your ability to earn money is your biggest asset, and it is likely into the millions of dollars.

Future earning capacity is not the same as future earnings.  Future earnings are what you will actually earn in the future assuming that you maintain the same income.

How is Future Earning Capacity Calculated?

If you make $50,000 now, and you are 20 years from retirement, it’s reasonable to say that your future earnings should be $1 million.  But earning capacity is a bit different.  Earning capacity has to account for additional training, promotions, job changes, experience, skill, and more.

Medical specialists will have to weigh in.  How impaired are you?  Is it likely that you will recover and return to work?  In what capacity?  These professionals will give their expert opinion on the long-term consequences of your injuries.

Vocational trainers may need to weigh in as well.  If you worked a manual labor job, and you lost the use of a leg, you aren’t going to be able to go back to that same job.  Can you train for a new job?  Will you be able to work in the same industry but in a different capacity?  How will being back in the workforce bode with your injuries?

There’s a whole lot to look at when we’re dealing with future earning capacity – something that an expert Texas motorcycle crash lawyer can help with.

Other Compensation You Deserve after a Texas Motorcycle Crash

It’s not just about your earnings, either.  There’s a lot that is going on with these crashes.

You have medical expenses, lost wages while you’re in the hospital, you have out-of-pocket expenses, damaged property that you need compensated for, and that’s just the expenses we can tally up.

What about damage to your emotional well-being?  There’s pain and suffering to be accounted for.  The reduction in your quality of life (and the loss of enjoyment of life), and a whole lot more.

It’s hard to wrap your mind around the overall consequences of this wreck – not something that you should even have to consider when you’re trying to heal from injuries.

Why You Need Herbert Law Group After a Wreck

Herbert Law Group is here to help make sure that you’re not overlooked.  Insurance companies want to write a quick check (usually way too little to fully cover what you need) and clear the wreck off their books.

And they do that, with a lot of people who don’t fully understand just how expensive it’s going to be.

We’re offering an alternative.  Don’t worry about any of the financial impacts.  Just focus on healing from your injuries.  We’ll take care of the legal stuff and the insurance companies as we work toward getting you the maximum compensation to help fully take care of you financially.

Let’s talk about what happened.  Call us at 214-414-3808, or fill out the online contact form and we’ll reach out and have a conversation about how we can help.