What Is the Average Mesothelioma Settlement?
Victims of mesothelioma or their loved ones often want to know the average mesothelioma settlement to see if it would be in their best interest to file a claim. But the compensation people receive for developing mesothelioma after asbestos exposure can vary greatly depending on the circumstances, the applicable law, and other factors.
In this post, the Flint Cooper mesothelioma attorney team answers essential questions about what goes into a mesothelioma settlement, if it is taxable, and the factors that impact the damages award a victim receives. The team also covers the compensation loved ones might receive for a wrongful death claim.
Flint Cooper has extensive experience advocating for mesothelioma victims and their families. When individuals and businesses cut corners, they can expose people to asbestos and cause them to suffer immensely from mesothelioma. Our team steps in to hold these parties accountable and lift the voices of these victims and their families so they can begin to rebuild their lives.
What Goes into Mesothelioma Settlement Amounts?
Mesothelioma is an often aggressive cancer linked to asbestos exposure. The symptoms of mesothelioma often mirror those of benign conditions, such as gastrointestinal issues, and frequently go undetected until the disease advances to a late stage. In those cases, treatment is mandatory and may be costly. Filing a claim may be the best option for the family to strive for the compensation they need to cover the treatment.
If someone files a claim to hold the at-fault party accountable for their mesothelioma, they may request several types of damages, such as economic damages, noneconomic damages, and punitive damages.
As the name implies, economic damages cover the financial expenses associated with mesothelioma, such as hospital bills, chemotherapy, surgery, in-home care, lost wages, and lost earning capacity.
As you know, being diagnosed with mesothelioma has a range of consequences, and only a fraction of those concern the financial impact of cancer. Noneconomic damages compensate victims for the psychological, societal, relational, and physical suffering and unrest associated with having mesothelioma. This type of compensation includes pain and suffering.
Finally, in some cases, the court may find it appropriate to award punitive damages. These damages punish the person who caused the victim to get mesothelioma if their actions were particularly reprehensible. They also deter others from committing the same or a similar wrong.
What Is the Average Mesothelioma Settlement?
The average mesothelioma settlement addresses the full impact of the condition on the person’s life and the lives of their family members. For that reason, every damages award is different. The factors most courts consider when determining the appropriate financial award include the following:
- The applicable law
- The circumstances of the asbestos exposure
- The likelihood that the victim will fully recover
- The economic impact of mesothelioma on the victim’s life
- The conduct of the at-fault party leading to the asbestos exposure
- The award similarly situated plaintiffs received in past cases
You can maximize your chances of successfully recovering compensation by hiring an experienced attorney to represent you. Your lawyer can perform fundamental research to help create a targeted legal plan and serve as your champion in court.
What Are Average Wrongful Death Settlements for Mesothelioma?
Tragically, many people succumb to mesothelioma because of the nature of this type of cancer and because it is commonly caught at a later stage. Surviving loved ones may be eligible to file for compensation for the impact of their loved one’s death on their lives. Like with direct claims, the settlement amount varies significantly from case to case and depends on many factors. Based on the applicable law, the family may be eligible for loss of society, loss of parental support, loss of consortium, mental anguish, funeral costs, and other types of compensation.
Are Mesothelioma Settlements Taxable?
Generally speaking, most of the settlement you receive for a mesothelioma lawsuit is not typically taxable. But there are cases where part of the settlement may be taxable, such as if you deduct medical expenses during a prior return before you receive reimbursement. For the most part, though, personal injury settlements are usually tax-exempt.
Contact the Dedicated Attorneys at Flint Cooper
Living with mesothelioma can be very challenging, and many victims of this disease are often frustrated because they developed cancer through no fault of their own. Filing a lawsuit may sound complicated, overwhelming, or even pointless. The choice to file a lawsuit is entirely up to you, and pursuing a claim may provide you with a path to justice.
Flint Cooper understands the pain and suffering mesothelioma victims and their families go through. It’s often a long, difficult road to recovery. While we cannot turn back the hands of time, we can serve as advocates and guides for those going through this process. We have helped many clients fight this battle and understand what is at stake. We tailor our approach to fit the needs and objectives of our clients because we know everyone is different, and we are visitors to their stories.
If you or your loved one suffers from mesothelioma, contact our office today to schedule a consultation and start your journey to justice.
About the author:
Ethan is a founder and managing partner of Flint Cooper, a law firm specializing in complex litigation. Ethan has extensive experience in personal injury cases, representing clients injured by asbestos, defective pharmaceuticals and medical devices, and leads the firm’s government takings practice.