Future earnings are the potential income that an individual could have earned if they had not experienced job loss, a disabling injury, or death. This term is commonly used to calculate damages in cases involving personal injury and wrongful termination. It is important to distinguish future earnings from income or revenue generated through labor, services, capital investment, or assets. Future earnings are a subset of lost earnings, which also encompasses past lost earnings.
Future earnings are the income that an individual or business is projected to earn in the coming years. This encompasses various sources of income such as wages, salaries, profits, and more. For instance, lost earnings pertain to the income an individual could have earned if they hadn’t experienced job loss, injury, or death. In the event of a car accident causing a person’s inability to work, they may receive lost earnings as damages in a lawsuit. On the other hand, retained earnings signify the profits a company has accumulated but has not distributed to shareholders as dividends. Instead, the company may opt to reinvest these earnings in the business or save them for future purposes. Additionally, future lost earnings refer to the income an individual is anticipated to earn in the future but will be unable to due to disability or other circumstances. If someone becomes permanently disabled in an accident, they may be granted future lost earnings as damages in a lawsuit. These examples demonstrate how future earnings play a role in legal cases for calculating compensation or damages related to lost income. They also highlight how businesses can utilise retained earnings to invest in their future growth and success.
Yes, you may be able to seek compensation for lost future earnings if your injury has impacted your ability to work and earn income.
Future earnings are typically calculated based on factors such as your current income, potential for career advancement, and the impact of your injury on your ability to work.
Yes, if you believe you were wrongfully terminated and can demonstrate that it has impacted your future earning potential, you may be able to seek compensation for lost future earnings.
Yes, future earnings can be considered in a divorce settlement, particularly if one spouse has sacrificed their career or earning potential for the benefit of the marriage.
Yes, if you can demonstrate that a medical professional’s negligence has impacted your ability to work and earn income in the future, you may be able to seek compensation for lost future earnings.
Yes, if a business dispute has impacted your ability to earn income in the future, you may be able to seek compensation for lost future earnings.
Yes, potential future earnings can be considered in a contract dispute if you can demonstrate that the dispute has impacted your ability to earn income in the future.
Yes, if you have experienced discrimination in the workplace that has impacted your future earning potential, you may be able to seek compensation for lost future earnings.
Yes, if property damage has impacted your ability to earn income in the future, you may be able to seek compensation for lost future earnings.
Yes, potential future earnings can be considered in a class action lawsuit if the actions of the defendant have impacted the earning potential of the class members.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/future-earnings/
- Modern Language Association (MLA):Future Earnings. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/future-earnings/.
- Chicago Manual of Style (CMS):Future Earnings. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/future-earnings/ (accessed: May 09 2024).
- American Psychological Association (APA):Future Earnings. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/future-earnings/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts