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How Much Will My Mesothelioma Lawsuit Settlement Amount Be? Mesothelioma patients are seeking compensation for medical expenses and also to provide financial security for their families and themselves. After the 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 a costly court trial and to get the money in the hands of the victim faster. The amount they settle for can vary from case to case. Factors That Affect the Settlement Amount Asbestos exposure could result in high medical costs, lost wages and other financial losses. A jury may decide to award compensatory damages determined by the plaintiff's economic losses. Certain cases in the past have resulted in awards of compensation in the tens of millions of dollars. However, no experienced lawyer can promise a particular settlement amount for each client. There are too many variables to consider. An experienced lawyer can help identify asbestos companies that are accountable and file the necessary paperwork for an asbestos lawsuit. Once the complaint has been filed, a legal timeline begins, with strict deadlines that must be met by all parties involved in the case. If a defendant is found be responsible for a breach of contract, the company will usually resolve the matter outside of court prior to trial. The defendants often want to settle their claims before being exposed to negative publicity and a long trial. They may also want to avoid the cost of litigation. Settlements usually include the plaintiff's financial losses, including any unreimbursed medical expenses. They may also pay for other living expenses, such as transportation or home health care aids. The settlement will also cover lost wages, including those already lost by the victim, as well as those predicted to be lost in future. In addition to these costs, victims also receive damages for suffering, pain and emotional distress. These damages are based on the physical psychological, emotional and mental impact of asbestos-related ailments. These damages also include the loss of enjoyment living. A mesothelioma lawyer will make use of their knowledge of asbestos firms business practices and their history to calculate the damages a victim is entitled. Asbestos attorneys can prepare for the plaintiff's case before a judge and jury. In Pasadena asbestos attorneys with joint and several liability, a jury will determine the total value of a case as well as what percentage of the liability for the losses of the plaintiff each defendant carries. Additionally, jurors will look at punitive damages, which are intended to punish the defendant for their incompetence and wrongdoing. In some instances juries can award punitive damages of tens of thousands of dollars. Punitive Damages A jury can award punitive damage if an asbestos victim can show that a business has committed corporate malice, or has committed a scandalous act. These damages are designed to penalize the defendant and discourage others from engaging in similar behavior. The amount of damages depends on several factors. A company's size and past record can also factor into the amount of punitive damages. The punitive damages given to larger corporations tend to be greater than the ones awarded to smaller businesses. The amount of compensation awarded is dependent on the particular case. However there are a few factors that can help attorneys and victims determine the most suitable compensation. These include the following: During the investigation phase, which occurs prior to filing an asbestos suit the legal team of your attorney will gather evidence about your exposure and determine any liable parties. This may include a thorough review your medical records, employment history and possible locations where you were exposed to asbestos. In the majority of instances your legal team will identify multiple sources of exposure. After the investigation is completed, your legal team will file your lawsuit in the state court system that is most suitable for your case. The asbestos litigation process could take a long time, especially when your lawyer has to appeal or seek an appeal. In some instances the legal team may settle the asbestos case earlier in the litigation. In recent years juries have handed out large sums in mesothelioma as well as other asbestos cases. Some asbestos companies have sought an intervention from the courts as a result. They argue that asbestos litigation creates a climate of fear for business. Despite the arguments of certain asbestos attorneys judges have resisted numerous attempts to limit asbestos litigation. Judges in New York and California recently sided with asbestos defendants, striking punitive damages claims that were unsubstantiated. Consult a mesothelioma lawyer who is experienced in asbestos cases as the initial step in pursuing a settlement. A qualified law firm can provide you with a no-cost initial consultation and answer your questions regarding the amount you could receive in an asbestos settlement. Compensation Damages The amount of compensation can be affected by the monetary value of the damages. Families and victims of asbestos can seek compensation for medical expenses as well as pain and suffering as well as lost wages and more. They can also seek wrongful death compensation for family members who have passed away due to exposure to asbestos. A mesothelioma lawyer can determine the best way to negotiate with defendants for an agreement. The process begins by gathering evidence of asbestos-related exposure, such as work and medical records, and assembling an inventory of the products the patient was exposed to. The attorneys file the lawsuit, and conduct the discovery. The mesothelioma defendants tend to settle for fear of a huge verdict in court or negative publicity resulting from a lengthy trial. This is especially true when the defendant in a mesothelioma case is a large corporation. However, it is also important to note that different states require a certain amount of evidence of negligence and misconduct on the defendant's part in order for the plaintiff to receive damages for compensation. If the evidence is strong enough, a mesothelioma lawyer can negotiate with the defendants to secure the highest amount of compensation for their client. A seasoned mesothelioma lawyer will take into account the severity of the patient's condition the financial loss they have suffered and the likelihood that they will not recover from the disease. 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. Based on the circumstances, any or all of a mesothelioma settlement could be non-taxable. The IRS taxes income only when it is directly linked to death or injury. A mesothelioma lawyer with experience will carefully plan an argument to ensure that the majority of an award is not tax-deductible, including the compensation for emotional distress as well as 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 could be worth. Lawyers can also assist asbestos victims file claims within the statute of limitations. Waiting too long could result in victims losing out on any compensation. Asbestos lawyers understand the complicated legal process that is involved in filing an asbestos lawsuit, and negotiating an agreement. Lawyers can also give opinions on whether it's in the best interest of a victim to accept or decline an asbestos settlement offer. They can also help decide whether or not to go to trial and assist asbestos victims in obtaining evidence to support their legal claims. Mesothelioma lawyers typically request an amount sufficient to cover a victim's medical expenses and provide financial security to their family. They will consider a victim's age, diagnosis, and other factors when requesting compensation. In general, mesothelioma sufferers receive a payment ranging from $1 million and $1.4 million. In addition to compensatory damages, victims can be awarded punitive damages. These damages are designed to penalize defendants who place profits over the security and safety of military personnel and workers. The amount of punitive damages is determined by the particular case. In the majority of asbestos cases there are several defendants. In many instances several asbestos producers are included in a single claim. In many instances, the final settlement amount will be borne by each manufacturer who is responsible for the victim's asbestos exposure. The greater the potential settlement amount for a victim, more companies they list.