Future expenses-related economic damages are the expenses an individual or family is projected to incur due to a personal injury or wrongful death. The reimbursement of costs incurred, and those reasonably expected to be incurred, are recoverable and should be included in an economic damage calculation.
In some cases, there may be expenses, such as a replacement automobile or costs to retrain in cases where a job was lost. When a catastrophic injury occurs, a life care plan is often created to project the combined future medical expenses an individual may incur.
These expenses must be calculated in present value to determine the damage award amount needed to accurately cover the cost of these future expenses.
Common future expenses in a life care plans