Q: How can a court decide what an academically promising college student's future earnings would be after he's killed in a
car accident?
A:
Hello - first, I am sorry for your loss!
There are many factors that go into an estimated future income when someone dies before they reach the workforce. In most cases, the attorney on the side of the deceased will hire experts in the area and gather evidence to support an estimate that is based on academic performance, goals and things like socioeconomic background to project how much the deceased would have made in their work lifetime. A jury then has the ultimate say over how much is awarded for all damages under the claims presented at trial.
A lawyer is very helpful in these types of cases.
Mark Oakley agrees with this answer
A: A vocational expert testifies about anticipated future career paths and earnings based on many factors, including the deceased's education, socio-economic background, among other areas. An economist then takes the earnings estimates and life expectancy into account to calculate lifetime earnings, reduced to a current day value. Actuarial and economic analysis requires expert testimony to support the dollar amounts. Lawyers who handle these types of cases typically have their go-to experts whose expertise and calculations are beyond reproach.
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