Georgia Value of Life

When families lose a loved one because of the actions of another party, they may be eligible to recover damages for the loss. By working with an experienced wrongful death attorney, the family can file a wrongful death claim against the responsible party in order to receive compensation and gain a sense of resolution.

While putting a price tag on a human life is impossible, the courts must look at the value of a human life in economic terms when awarding compensation in a wrongful death case. The value consists of two components: the actual economic value, and the value that the deceased placed on his or her life.

In order to determine the actual economic value in a wrongful death case, a financial expert or economist will look at the deceased’s education level, income, expected raises, retirement contributions, and life expectancy. The financial expert will use this information to calculate the deceased’s value of life.

Unlike the actual economic value, the value that the deceased placed on his or her life is entirely subjective. Some call this the “willingness to pay” model—that is, how much would the deceased pay for his her life. Using this model can be difficult for minors or those who are terminally ill or incarcerated. In order to prove the value of life, an experienced wrongful death attorney may collect stories from the deceased’s life in order to prove to the jury how much life meant to him or her.

In addition to damages for the value of life, family members may be awarded compensation for loss of companionship, loss of affection, mental anguish, and pain and suffering. If the deceased received medical care before succumbing to his or her injuries, compensation for medical bills and funeral expenses may also be awarded.

At Head, Thomas, Webb and Willis, we realize how precious life is. Our attorneys are dedicated to helping families who have lost a loved one because of the negligent or malicious actions of others. While no amount of compensation will bring your loved one back, it can help begin the healing process.

Please contact our firm today for a free consultation regarding your case.