What’s Your Case Worth? Key Questions for Maximizing Compensation

March 22, 2024

March 22, 2024

What’s Your Case Worth? Key Questions for Maximizing Compensation

As a plaintiff lawyer, one of the first questions your client will ask is, "What's my case worth?" The answer isn't always straightforward, but it's crucial for setting realistic expectations and developing an effective legal strategy. Determining the potential compensation involves a detailed understanding of the case's nuances, the impact on your client's life, and the legal landscape. Here are essential questions that can help you and your client gauge the case's worth more accurately.

Understanding the Client’s Story

Question: What are the specific circumstances and details surrounding the incident?

Insight: Every case is unique, and the specific details of the incident play a critical role in determining its value. Understanding the sequence of events, the parties involved, and the immediate impact on your client provides a foundation for building a compelling case.

Evaluating Economic Damages

Question: What are the total medical costs, lost wages, and other quantifiable financial losses?

Insight: Economic damages offer a tangible measure of some of the impacts of the incident. Calculating these costs requires gathering all relevant bills, receipts, and records. This calculation will form the baseline for any compensation claim.

Assessing Non-Economic Damages

Question: How has this incident impacted your client’s quality of life, emotional well-being, and relationships?

Insight: Non-economic damages, though harder to quantify, can significantly increase a case's worth. Understanding the depth of your client's pain, suffering, and lifestyle changes is crucial for arguing these damages effectively.

Considering Comparative Negligence

Question: Is there any evidence that could suggest shared liability or diminish your client’s claim to compensation?

Insight: Comparative negligence can drastically affect the outcome of a case. Identifying any potential liabilities early can help in formulating a strategy to minimize their impact.

Analyzing Insurance Coverage and Limits

Question: What are the coverage limits of the defendant’s insurance policy, and are there additional sources of compensation?

Insight: Knowing the maximum available from insurance policies sets a realistic upper limit for settlement negotiations and identifies if pursuing additional assets is necessary.

Investigating Precedents and Jurisdictional Trends

Question: How have similar cases been valued and settled in this jurisdiction?

Insight: Precedents and local legal trends can offer valuable benchmarks for setting expectations and guiding settlement discussions.

Gauging the Defendant’s Ability to Pay

Question: Beyond insurance, what assets does the defendant have that could satisfy a judgment?

Insight: In cases where insurance won't cover all damages, understanding the defendant's ability to pay out-of-pocket is essential for determining the pursuit's worth.

Estimating a case's value is a complex process that requires careful consideration of various factors, from direct financial impacts to more subjective measures of suffering. By asking these critical questions, you can develop a more comprehensive view of the case's worth, guiding your strategy for pursuing fair compensation.

At LevelEsq, we understand the challenges plaintiff lawyers face in assessing and funding their cases. Our innovative financing solutions are designed to support your pursuit of justice, ensuring you have the resources to build a strong case. Contact us to learn how we can assist in maximizing your cases' worth and achieving the best possible outcomes for your clients.

The information provided on this blog is for general informational purposes only and should not be considered as professional advice. While we strive to provide accurate and up-to-date information, we are not accountants, and the content presented here is not a substitute for professional financial or legal advice. Readers are encouraged to consult with a qualified accountant or financial professional for advice specific to their individual circumstances. The authors and the blog owner disclaim any responsibility for actions taken based on the information provided.

How can we help your firm?

Lawsuit Cost Financing

Quick and seamless access to capital to fund your case expenses.

Litigation Cost Protection

Protect the downside with insurance coverage for litigation costs.