The process of quantifying economic losses resulting from personal injury claims is quite complex in most standard cases. However, the process can become considerably more complex when pre-existing conditions effecting income, expected retirement age, loss of competitive advantage and whether the claimant reported cash income for tax purposes or was self-employed are also taken into consideration. Although some issues are heavily reliant on assumptions, such as retirement age (which may be decades into the future) or future promotions (which are uncertain), there are other factors that require detailed analysis to be accurately determined. The effect of pre-event conditions on pre-event income can be calculated by looking at the amount of unreported income through source documents that may be available, as well as analyzing business expenses to quantify personal portion of expenses.

Jennifer Lynch, President and Founder – Lynch & Associates

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