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How Much Will My Mesothelioma Lawsuit Settlement Amount Be? Mesothelioma patients seek compensation for medical expenses and also to provide financial security for themselves and their families. Once victims and their lawyers find asbestos-related companies that are responsible and file a lawsuit, they file and wait for an answer. Many defendants settle to avoid costly court trials and get the money into the victim's hand faster. The amount of settlement can differ from case to case. Factors that Influence the Settlement Amount Asbestos-related victims typically face high medical costs, lost wages and other financial losses as a result of their exposure to asbestos. A jury can award compensatory damages that reflect the plaintiff's actual economic losses. Some cases have resulted into awards of compensation of tens of millions of dollars. However, Arlington asbestos lawyers can guarantee a specific settlement amount for an individual client. There are many variables to consider. An experienced lawyer can help identify asbestos companies that are liable and file the paperwork required to file an asbestos lawsuit. Once the complaint is filed and a legal timeline is established, the process begins with deadlines to be adhered to by all parties involved in the case. If a defendant is found to be liable for a breach of contract, the company will usually resolve the matter outside of court prior to trial. They want to settle their claims quickly to avoid negative publicity and a long trial. They may also wish to avoid the cost of litigation. Settlements provide compensation for any unreimbursed expenses, including medical expenses. It could also pay for other living expenses, like transportation or home health aids. In addition, the settlement will pay for lost wages, both those that the victim has already lost as well as those that are expected to disappear in the near future. In addition to these expenses victims also receive damages for suffering, pain and emotional distress. These damages consider the physical, emotional and psychological impact of asbestos-related ailments. These damages also include the loss of enjoyment of living. In calculating these damages an experienced mesothelioma law firm will draw upon its knowledge of asbestos-related businesses and their past business practices to build a strong argument for the amount of compensation a victim deserves. Asbestos lawyers can prepare for a plaintiff's case before a jury and judge. In states with joint and multiple liability the jury will decide the value of a case as well as what proportion of liability for the losses of the plaintiff each defendant bears. Additionally, jurors will look at punitive damages, which are meant to penalize the defendant due to their wrongful conduct and negligence. In certain cases, a jury might award tens of millions of dollars in punitive damages. Punitive Damages A jury may award punitive damage if an asbestos victim can show that a company engaged in corporate malice, or outrageous misconduct. They are intended to punish the defendant and deter others from engaging in similar behavior. The amount of damages imposed depends on a variety of factors. A company's size and past performance can also affect the amount of punitive damages. Larger corporations are usually more likely to receive higher punitive damages awards than smaller companies. The amount of compensation awarded is highly dependent on the specific case. However, there are some factors that can help victims and their attorneys calculate the best amount of compensation. These include: During the investigation phase, which occurs before filing an asbestos lawsuit your legal team will collect evidence about your exposure and identify any accountable parties. This may involve a thorough review of your medical records, work history and potential locations in which you might have been exposed to asbestos. In the majority of cases, the legal team will determine numerous sources of asbestos exposure. After the investigation is completed the legal team will start the lawsuit in the state court system that is most suitable for your case. The asbestos litigation process can take quite a long time, particularly in the event that your lawyer must appeal or seek the possibility of a trial. In some cases your legal team may negotiate an asbestos settlement and resolve the matter earlier in the litigation process. In recent years, juries have awarded large sums of money in mesothelioma and other asbestos-related cases. Some asbestos companies have requested an intervention from the courts as a result. They claim that asbestos litigation is creating a climate of fear and uncertainty for businesses. Despite the arguments of some asbestos lawyers the judges have resisted many attempts to limit asbestos litigation. However judges in New York and California have recently supported asbestos defendants by removing punitive damages claims that were not supported. Consult a mesothelioma lawyer who is experienced in asbestos cases as the initial step in pursuing settlement. A reputable law firm will give you a free initial consultation and answer any questions regarding the amount you could receive in an asbestos settlement. Compensation Damages The amount of compensation awarded can be affected by the financial value of the damages. Victims and their families can seek compensation for suffering and pain and medical expenses, as well as lost wages and more. They can also seek compensation for wrongful deaths for family members who have passed away due to exposure to asbestos. A knowledgeable mesothelioma lawyer can help determine the best method to negotiate with defendants for settlement. The process begins with collecting evidence of exposure to asbestos like work and health records, and assembling a list of the products that were ingested by the patient, along with the date of exposure. The attorneys file the lawsuit and conduct discovery. Defendants in mesothelioma cases tend to settle due to the fear of a large verdict in the courtroom or negative publicity resulting from a lengthy trial. This is especially true when a mesothelioma defendant is a large corporation. However, it is also important to note that different states require a specific amount of evidence of negligence and wrongdoing on part of the defendant in order for a plaintiff to be awarded compensation. If the evidence is strong enough an attorney for mesothelioma can engage in settlement negotiations with defendants in order to get the most possible amount of compensation for their client. A mesothelioma lawyer with experience will evaluate the severity of the patient's medical condition, the financial losses they have sustained and the likelihood that the patient is not able to 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 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, a portion or all of a mesothelioma settlement could be tax-free. This is due to the fact that the IRS generally taxes income only when it directly corresponds with injury or death. A mesothelioma lawyer with experience will carefully craft a case to ensure that the maximum amount of an award is non-taxable, including compensation for emotional distress and the loss of companionship. Case Valuation Matrix Asbestos victims should work with a lawyer who is experienced in mesothelioma cases to determine how much their case is worth. Lawyers can also help asbestos victims file claims within the statute of limitations. In the event of a delay, it could mean that victims lose out on any compensation. Asbestos attorneys understand the complex legal procedure that is involved in filing an asbestos lawsuit and the negotiation of a settlement. Lawyers can give their opinions on whether or not it is in the best interest of the victim 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 attorneys typically ask for an amount sufficient to cover medical expenses and provide financial security for their family. When seeking compensation, they'll consider the patient's diagnosis, age and other factors. Mesothelioma sufferers typically receive a settlement payout of $1 million to $1.4 million. Victims may also be awarded punitive damages along with compensatory damages. These damages are designed to penalize defendants who put profits ahead of the safety of workers and military service members. The amount of punitive damages awarded is different by case. The majority of asbestos lawsuits name multiple defendants. In many cases, dozens of asbestos producers are included in a single claim. In many cases, each manufacturer that is responsible for the victim's exposure will contribute to the final settlement sum. The higher the potential settlement amount for a victim, more companies they list.