BALANCING LIFE AND THE LAW
Every month, Chicago personal injury lawyer Jeffrey J. Kroll contributes to the Chicago Daily Law Bulletin in his column Balancing Life and the Law.
In this month's article, "Lawyers should take the reins with future damages", Jeff puts a holiday spin on the discussion of maximize damages for client's future medical expenses, lost earnings, future pain and suffering, disability, disfigurement and loss of consortium damages in a light of the ever-changing American economy and political climate. Here is an excerpt from his article:
My firm represents individuals who have been severely injured as a result of someone else's negligent acts. One of the most difficult tasks we have is ensuring our clients receive full and fair compensation. Before entering into a settlement or suggesting an amount of compensation to a jury, we must determine a sufficient amount of money that will provide for the individual well beyond the date of trial. Often, our clients' lives have been shattered by unnecessary and unexpected injuries. Many can no longer work or care for themselves.In my humble opinion (with the full disclosure that I am a plaintiff's attorney), the injured party deserves the benefit of the doubt. This isn't just a "holiday, be generous" message. (Although, I am in the spirit this year; Christmas music plays in my office even as I write this article.) Who will care for the injured if their settlement or verdict award does not cover medical and daily living costs well into the future? I have yet to hear of Santa and his elves stuffing stockings with prescription medications, physical therapy, joint replacement surgeries or checks to cover insurance premiums. No one can depend on the future of Medicare and Medicaid either — nor should they have to. The harm perpetrated on the injured will consistently ripple through the individual's family, emotionally and economically. Not only do family members live with the changed — depressed and likely disabled — person, but often they also must care for the victim of negligence. The cynic will say "Well, that's the family's job. They should take care of them." But how fair is that?
The only way to protect the victim and the family, and to provide them with some piece of mind when it comes to future finances, is to maximize damages for future medical expenses, lost earnings, even future pain and suffering, disability, disfigurement and loss of consortium. Speculative damages, you might say. But there is nothing speculative about the ongoing pain and suffering that my clients will endure. Nor is there anything speculative about the medical care that they will require for the rest of their lives.
Then, there is the whole business of future damages discounted to present cash value. All future damages, except for pain and suffering, disfigurement, disability and loss of society and consortium, must be reduced to present cash value. This has become the preferred method of determining future damages. While there is no requirement that the trial attorney present actuarial or statistical evidence to the jury to determine present cash value (Robinson v. Greeley & Hansen, 114 Ill.App.3d 720, 725 (2d Dist.1983)), it certainly can be helpful at times. Of course, mortality tables also help plot the course. But how do we plan for other economic and political changes? Right now, the future of health care in this country is unknown. Regardless of which side of the aisle you prefer, we will all be affected by the changing American medical infrastructure at some point. Medical costs seem to be rising as quickly and as steadily as the cost of college. Life-care planners and economists can help us plan for our clients' futures, but we are ultimately the clients' advocates and must direct the outcome.
Read the entire article.
Continue reading "BALANCING LIFE AND THE LAW" »
