How Much Will My Mesothelioma Lawsuit Settlement Amount Be?

Mesothelioma victims seek compensation to pay for medical expenses and provide financial security for their families. When the lawyers and victims determine asbestos companies that are liable they file a lawsuit and wait for a response.

Many defendants settle to avoid costly trials and to get the money into the victim's hands faster. The settlement amount can vary from case to case.

Factors that affect the settlement amount

Asbestos exposure can result in expensive medical expenses, loss of wages and other financial losses. A jury can award compensatory damages dependent on the plaintiff's financial losses. Some cases have resulted in compensation of tens of millions of dollars. An experienced lawyer cannot provide a specific settlement amount for clients. There are too many factors at play.

An experienced attorney can determine liable asbestos companies and file the proper paperwork to initiate an asbestos lawsuit. Once the complaint is filed and a legal timeline is established, the process begins, with strict deadlines that must be followed by all parties involved in the case.

In the majority of cases, when the defendant is found to be liable, a settlement will be reached out of the court prior to trial. The defendants would like to settle their cases quickly to avoid negative publicity and a long trial. Moreover, they may also prefer to avoid the cost of litigation.

Settlements usually include compensation for the plaintiff's financial losses, including any medical expenses not reimbursed. It could also be used to pay for other living expenses such as transportation or home health care aids. The settlement will also pay for the loss of wages, which includes those already lost by the victim, as well as those predicted to be lost in the future.

In addition to these costs, victims also receive damages for pain, suffering and emotional distress. These damages consider the physical psychological, emotional and mental impact of asbestos-related ailments. They also include the loss of enjoyment from life.

A mesothelioma lawyer will make use of their knowledge of asbestos firms' business practices and history to calculate the damages a victim is entitled.

Asbestos lawyers can prepare to present a plaintiff's case before a jury and judge. In states with joint and several liability the jury will decide the amount a case is worth and how much each defendant is responsible for the plaintiff's damages. Additionally, jurors will look at punitive damages, which are meant to punish the defendant for their wrongful conduct and negligence. In certain cases juries may award punitive damages of several thousand dollars.

Punitive Damages

A jury can award punitive damage if an asbestos victim can prove that a company committed corporate malice, or outrageous misconduct. They are intended to punish the defendant and discourage others from engaging in similar behavior. The amount of damages is contingent on a variety of variables.

The size of a company and its past record can also factor into the amount of punitive damages. Larger corporations are typically more likely to pay higher damages for punitive damages than smaller firms.

The amount of compensation awarded is highly dependent on the specific case. However, there are some factors that can aid victims and their attorneys determine the most appropriate amount of compensation. These include:

During the investigation phase, prior to filing an asbestos lawsuit your legal team will collect evidence of your exposure and identify all liable parties. This may involve a thorough examination of your medical records, your work history, and possible locations in which you might have been exposed to asbestos. In most instances your legal team will identify several sources of exposure.

After the investigation is completed and your legal team is ready to start the lawsuit in the state court system that is most suitable for your particular case. The asbestos litigation process could take an extended time, particularly in the event that your lawyer must file appeals or pursue an appeal. In some cases your legal team may reach an agreement with asbestos and resolve the matter earlier in the litigation process.

In recent years, juries awarded huge sums of money in mesothelioma cases as well as other asbestos-related cases. This has led asbestos companies to seek an intervention from the courts. They argue that the asbestos litigation system creates a fearful atmosphere for business.

Despite the arguments of some asbestos attorneys judges have resisted numerous attempts to limit asbestos litigation. However judges in New York and California have recently backed asbestos defendants by striking punitive damages claims that were not substantiated.

Consult a mesothelioma lawyer who specializes in asbestos cases to take the first step to seeking an agreement. A qualified law firm will offer a free consultation and answer any questions you have regarding the amount you could be able to receive as part of an asbestos settlement.

Compensatory Damages

The monetary value of compensatory damages can be a major factor in the amount of a settlement for asbestos. Families of victims can seek compensation for pain and suffering as well as medical expenses, lost wages, and more. They can also seek wrongful death compensation for family members who died due to exposure to asbestos.

A mesothelioma lawyer who is skilled can help determine the best method to negotiate with defendants in settlement. The process begins by obtaining evidence of asbestos-related exposure, such as work and medical documents, and then compiling an inventory of the substances the patient was exposed to. The attorneys file the lawsuit, and conduct the discovery.

Plaintiffs in mesothelioma cases are often willing to settle due to the fear of a huge verdict at trial or negative publicity from a lengthy trial. This is particularly true when the defendant in a mesothelioma case is a large business. However, it is important to be aware that different states require a certain degree of proof of negligence and wrongdoing on part of the defendant in order for the plaintiff to receive compensatory damages.

If the evidence is convincing enough, a mesothelioma lawyer can negotiate with the defendants to obtain the most favorable settlement possible for their client. A mesothelioma lawyer with experience will assess the severity of the victim’s health, the financial loss they have suffered, and the possibility that the victim will not recover.

It can be difficult to prove mesothelioma exposure as it occurs through inhalation and is not always obvious. In addition, it can be up to 50 years before asbestos attorney exposure causes mesothelioma symptoms. Mesothelioma is a rare form of cancer and is caused only by asbestos exposure, so it is essential to have an experienced asbestos attorney on your side.

Depending on the circumstances, some or all of a mesothelioma settlement could be tax-free. This is because the IRS typically taxes income only when it directly corresponds to death or injury. An experienced mesothelioma attorney will carefully craft an argument to ensure that the most of an award is non-taxable which includes compensation for emotional distress and the loss of companionship.

Case Valuation Matrix

To determine the value of their case, asbestos victims should speak with an attorney who has experience with mesothelioma. Attorneys can help asbestos victims submit claims within the timeframe of the limitation period. Waiting too long could lead to victims losing out on compensation.

Asbestos lawyers are aware of the complex legal procedure of filing an asbestos lawsuit and the negotiation of a settlement. Lawyers can give their opinions regarding whether or not it is in the victim's interest to accept an asbestos settlement offer. They can also suggest whether to go to trial and help asbestos victims uncover evidence they need to support their legal claim.

Mesothelioma lawyers usually request an amount that is enough to cover medical expenses and to provide financial security for their family. When requesting compensation, they'll take into consideration the diagnosis of the victim, their age, and other factors. On average, mesothelioma patients receive a settlement of $1 million to $1.4 million.

In addition to compensatory damages, victims could also be awarded punitive damages. These damages are designed to punish defendants for placing profits before the security of employees and military service members. The amount of punitive damage is determined by the specific case.

The majority of asbestos lawsuits mention multiple defendants. It is common for a single claim to include several asbestos manufacturers. In most cases the final settlement amount will be contributed by each manufacturer responsible for the victim's exposure to asbestos. The more companies named, the greater the chance of a victim's settlement payout.