Have you lost a loved one due to a wrongful death? If so, you undoubtedly are seeking compensation.

Often, companies and/or individuals fail to perform to industry standards. Consequently, they’re liable for the loss of a loved one due to their negligence. In this regard, you’re entitled to filing a wrongful death lawsuit to hold the defendant accountable.

Often, families see significant settlements after doing so. You surely don’t want to embark on this course of action lightly. 

To learn more about the average wrongful death settlement, keep reading.

What Is a Wrongful Death Settlement?

In 2023, wrongful death settlements can vary greatly for each case but typically range from the mid-hundreds of thousands to tens of millions of dollars. A wrongful death settlement compensates the surviving family members for financial losses, such as:

  • lost wages
  • medical expenses
  • pain and suffering

It also compensates for intangible, non-financial losses such as loss of companionship and loss of life expectancy. The total value of the wrongful death lawsuit will depend on how quickly it is settled, as well as the cost of the court case and the lawyer’s fees.

What Type of Attorney Can Handle the Case?

An attorney for wrongful death can review the facts of a case and evaluate how much compensation should be sought from the liable party. They can file any required legal documents, manage negotiations with the liable party’s insurance provider or attorney and work with local courts to establish liability.

Furthermore, they can help families establish trusts and review all paperwork and contracts relating to a wrongful death settlement. This can help ensure that the settlement is fair and the family is able to take advantage of their legal rights. 

Factors That Influence the Payout Amount

There are many factors that come into play, such as the age of the victim, the details of the case, the location, and other factors. Generally, settlements seek to compensate the family for their loss and provide them with financial peace of mind.

When looking at the settlement, it’s important to remember that this is an average, and not all settlements are the same. It is also important to remember that no amount of money can replace a lost loved one but this type of settlement may offer some closure and help put an end to a difficult time.

Learn the Average Wrongful Death Settlement Today

The average wrongful death settlement in 2023 is highly case-dependent and will vary significantly based on the details of an individual case. If you or a loved one have been a victim of wrongful death, seek the advice of a legal expert to ensure you and your family receive the maximum compensation you deserve. Take action now, your future depends on it.

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