Loss of Income (child or young adult)

Economica’s Assessments: Information required to complete a loss of income (personal injury) assessment when the plaintiff is a minor or young adult

We have outlined below the information which we typically require in order to complete a loss of income assessment when the injured person is a minor or young adult (i.e., the person does not have an established career path).

  • The plaintiff’s date of birth.
  • The scheduled trial date, or the date which we should use as an “assumed settlement date.” A settlement date is necessary to provide a “point of reference” for our calculations.
  • Any items that will provide us with a brief overview of the details behind the accident, the injuries, and medical treatment. Note that, as economists, we are not qualified to interpret items such as operation reports, MRI reports, and so forth. Therefore, it is not necessary to send us all of the technical medical reports which are available.
  • Any available reports from vocational, cost of care, and/or household services experts.
  • Any psychological or medical assessments that discuss issues relating to the plaintiff’s employability.
  • What level of education does the plaintiff presently have? How successful has he or she been in school? Is there any information which indicates how this would be different if the accident had not occurred?
  • We would like information regarding what the plaintiff’s academic and/or employment plans and potential had been (or might have been), but for the accident. In addition, we would like any available reports that discuss the plaintiff’s present academic and/or employment potential, now that the accident has occurred.
  • Since the plaintiff is a minor/young adult, our loss of income assessment may rely partially on the education and career paths of the immediate family. Therefore, we would like information regarding the education levels, occupations, and earnings of the immediate family, particularly the plaintiff’s parents and siblings.
  • If available, please provide portions of Examinations for Discovery transcripts which deal with any of the above topics.

To summarize, we require any information which relates to what the plaintiff’s career path (and income potential) would likely have been if the accident had not occurred; and what it will likely be now, given that the accident has occurred.

In addition to the usual detailed summaries of our economic approach, assumptions, and results, our loss of income reports include an inflation-adjustment graph which can be of assistance in determining an appropriate award for non-pecuniary damages. Also, we provide a table of judgment interest rates which can be applied to “special damages” costs which have been incurred over the pre-trial period.