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How Much Will My Mesothelioma Lawsuit Settlement Amount Be? Mesothelioma victims seek compensation to pay for medical expenses and provide financial security for their families. After the victims and their attorneys identify asbestos companies that are liable and file a lawsuit and wait for a reply. Many defendants opt to settle in order 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 sufferers typically face significant medical expenses as well as lost wages and other financial losses as a result of their exposure to asbestos. A jury can decide to award compensatory damages dependent on the plaintiff's financial losses. In some historic cases settlements have amounted to tens or even hundreds of millions of dollars. No lawyer with experience can provide a specific settlement amount for a client. There are far too many variables at play. An experienced attorney can identify asbestos companies that are responsible and file the correct paperwork to initiate an asbestos lawsuit. Once the complaint has been filed, a legal timeline starts with strict deadlines for all parties who are involved. 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. Defendants would like to settle their cases quickly to avoid negative publicity and a lengthy trial. They may also want to avoid the cost of litigation. Settlements typically include compensation for the plaintiff's financial losses, which includes any medical expenses not reimbursed. They may also include living expenses such as transportation or home health aids. The settlement will also cover lost wages, both those that the victim has already lost and those expected to be lost in the future. In addition to these costs, victims also receive damages for pain, suffering and emotional distress. These damages take into account the physical psychological, emotional and mental impact of asbestos-related ailments. These damages also include the loss of enjoyment of living. A mesothelioma lawyer will utilize their knowledge of asbestos companies' business practices and history to determine the amount of damages the victim is entitled to. Asbestos lawyers can be prepared to present the plaintiff's argument before a jury or judge. In states with joint and several liability the jury will decide the total worth of a case and the percentage of loss of the plaintiff each defendant is responsible for. Jurors also consider punitive damage which is intended to punish defendants for their negligence or wrongdoing. In certain cases juries can be able to award punitive damages that range from tens of thousands of dollars. Punitive Damages A jury may decide to award punitive damages if an asbestos victim can show that a company has committed corporate malice or has committed a scandalous act. These damages are intended to punish the defendant, and deter others from engaging in similar behavior. The amount of these damages is contingent upon a variety of factors. The size of the company and its past performance may influence the amount of punitive damage. The punitive damages awarded to larger corporations tend to be greater than those given to smaller businesses. The amount of compensation is highly dependent on the specific case. However, there are some factors that can aid attorneys and victims determine the most appropriate 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 responsible parties. This could include a thorough review your medical records, employment history and possible locations where you were exposed to asbestos. In most instances, your legal team will be able to identify multiple sources of exposure. After the investigation is completed, your legal team will start the lawsuit in the state court system that is best suited for your particular case. The asbestos litigation process could take an extended time, particularly when your lawyer has to file appeals or pursue a trial. In some cases, your legal team will agree to a settlement with asbestos and resolve the matter earlier in the litigation process. In recent years, juries have awarded huge sums of money in mesothelioma and other asbestos-related cases. St. Paul asbestos attorneys has led asbestos companies to seek legal intervention. They argue that the asbestos litigation system has created an atmosphere of anxiety and uncertainty for businesses. Despite the arguments of some asbestos lawyers, judges have rejected many efforts to restrict asbestos litigation. However judges in New York and California have recently backed asbestos defendants by striking punitive damages claims that were unsupported. The first step to pursue an asbestos settlement is to talk with a mesothelioma law firm which specializes in these types of cases. A qualified law firm can provide you with a no-cost initial consultation and answer questions about how much you could receive in an asbestos settlement. Compensation Damages The amount of compensation can be influenced by the monetary value of damages. Families and victims of asbestos can seek compensation for medical expenses or pain and suffering loss of wages, and many more. They can also claim compensation for wrongful deaths for family members who have passed away due to asbestos exposure. A mesothelioma lawyer will determine how to negotiate with defendants in order to reach a settlement. The process begins by collecting evidence of exposure to asbestos like medical and work documents, and then compiling an inventory of the products the patient was exposed to. The attorneys file the lawsuit and conduct discovery. In mesothelioma lawsuits, defendants are often willing settle out of the fear of a large verdict or negative publicity if the case goes to trial. This is particularly relevant when the defendant in a mesothelioma lawsuit is a large business. It is important to note that different states require that the plaintiff prove a certain amount incompetence or wrongdoing by the defendant before they can be awarded compensatory damages. If the evidence is convincing enough, a mesothelioma attorney may negotiate with defendants in order to get the best compensation possible for their client. A mesothelioma lawyer who is experienced will take into account the severity of the condition of the victim the financial loss they have suffered and the probability 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. Depending on the circumstances, some or all of a mesothelioma lawsuit could be tax-free. The IRS taxes income only if it is directly related to injury or death. A mesothelioma lawyer will design the case to ensure the majority of the amount isn't tax-deductible, including the compensation for emotional distress and loss of companionship. Case Valuation Matrix Asbestos victims should consult an attorney with experience in mesothelioma cases, to determine how much their case could be worth. Lawyers can also assist asbestos victims make claims within the statute of limitations. If asbestos victims are not diligent they may not be able to claim on compensation. Asbestos lawyers are aware of the complex legal procedure of filing an asbestos lawsuit and reaching an agreement. Lawyers can provide their opinion regarding whether or not it is in the victim's interest to accept an asbestos settlement offer. They can also suggest whether to go to trial and help asbestos victims gather evidence to prove their legal claims. Mesothelioma lawyers typically request an amount sufficient to cover a victim's medical expenses and provide financial security for their family. When seeking compensation, they take into account the victim's diagnosis, age and other factors. In general, mesothelioma patients receive a payout between $1 million and $1.4 million. Victims can also receive punitive damages, in addition to compensatory damages. These damages are designed to punish those who put profits ahead of the safety and security of military personnel and employees. The amount of punitive damages given is contingent upon the specific case. The majority of asbestos lawsuits name multiple defendants. It is typical for a single claim to name several asbestos producers. In many cases, each manufacturer responsible for a victim's exposure will contribute to the settlement amount. The more companies named, the more a victim's potential settlement payout.