When you experience the loss of a loved one due to another person’s negligence and enter into discussions with their insurance company, a settlement may be offered in order to avoid taking a case to trial. These settlements typically include both economic and non-economic losses and need to be carefully considered. Once a settlement is accepted, the wrongful death case is closed, and you will not be able to seek more compensation from the responsible party.
It is always best to speak to a lawyer before accepting Spring wrongful death settlements to ensure you have fully considered all losses and are getting a fair compensation offer.
What is Included in a Wrongful Death Settlement?
Typically, a wrongful death lawsuit or settlement in Spring, TX seeks compensation for two kinds of losses: economic and non-economic.
Economic Losses
Economic losses are those that can be calculated using actual expenses and current wages and benefits at the time of death. These typically include any medical expenses incurred because of the negligent act prior to death, funeral expenses, and an estimate of lost wages and benefits that the deceased would have likely earned if they had survived.
Non-Economic Losses
Settlements will typically include non-economic losses as well. Non-economic losses are those that do not have a clear dollar amount attached to them but that are still very real losses to the surviving family members. These losses typically include loss of companionship (for spouses) and loss of parental guidance (for children).
Other Compensation
In some extreme cases, a person bringing forward a wrongful death case may be able to seek punitive damages. These damages may be awarded when there is gross negligence that resulted in a death. In a settlement, the amount may not be explicitly labeled as punitive damages, but if it is likely a jury would award punitive damages if the case went to trial, the negotiations for a settlement may include additional compensation.
Benefits of a Wrongful Death Settlement
For plaintiffs in Spring, reaching a settlement with a defendant in a wrongful death lawsuit often holds many benefits. For one, settlements typically come much faster than a trial. Trials can take 1-3 years to reach a resolution, and it can be challenging — both financially and emotionally — for grieving families to drag the case out over such a long period of time.
Secondly, trials are expensive and often end up costing clients a lot more in court fees and attorney costs. Even if the settlement offer is smaller than what may have been awarded in trial, the family may walk away with a larger net gain in a settlement.
In addition, a settlement offers a more predictable outcome. If a case makes it to trial, the award will ultimately be determined by a jury and structured by a judge. In a settlement, the family has certainty over the outcome and can negotiate the terms of the payment in a way that works for them.
Contact a Spring Lawyer Before Accepting a Settlement for Wrongful Death
While a settlement can have many benefits, it is important to contact a lawyer before accepting any settlement offers. An experienced personal injury lawyer can help you decide if the settlement is a fair representation of your losses and negotiate on your behalf. Remember, once a case is settled in Spring, the wrongful death suit is over, and you cannot seek any additional compensation from that defendant.
If you have questions about wrongful death settlements, reach out to our lawyers today. We are here to help and will work with you at each stage in your case to ensure that your loved one receives justice. Contact us to get started.
