KW Economics prepares life care plan costing for personal injury cases venued in New Jersey: what the loss claim consists of, the records that drive it, and a present value built to New Jersey damages rules and venues. Plaintiff and defense.
For a personal injury claim the life care plan supplies the future medical and care items, and the economist's role is the economic translation of those items into a present value that reconciles with the plan. Each item's frequency, duration, and unit cost is carried forward with the medical cost growth appropriate to its category, summed year by year over the applicable life expectancy, and discounted with the rate stated. The result can stand alone or enter an integrated damages report on the same growth, discount, and life expectancy assumptions as the earnings and household services components.
Reduction of a life care plan's line items to a single present value. The plan's items, frequencies, durations, and unit costs are carried forward with medical cost growth appropriate to each category, then discounted over the applicable life expectancy. Plan authorship stays with the life care planner; our role is the economic translation of the plan into a damages figure that reconciles with the plan and can be examined item by item.
Which component dominates depends on the person's age, occupation, and residual capacity. For a young worker who can no longer perform a skilled trade, future earnings loss over a long worklife usually outweighs everything else. For a person who returns to work at reduced hours or lower pay, the loss is the gap between the but-for path and the post-injury path, and the size of that gap is the contested question. Where a life care plan exists, its present value is often the largest single figure in the report, and household services losses can be substantial when the injured person did most of the home's unpaid work.
New Jersey's trial judges act as gatekeepers under the state's own reliability inquiry, which weighs whether the method has been tested and accepted in the profession and whether it was reliably applied to the record, without adopting the federal standard outright; the witness is qualified by training and experience. An economic damages report meets that inquiry by tying each input to the record and naming the published source behind every rate and table.
Highest court: Supreme Court of New Jersey. Court system: njcourts.gov.
Federal venues: District of New Jersey.
Outside the civil courts, wage-loss disputes in workers' compensation matters proceed before the New Jersey Division of Workers' Compensation.
New Jersey pairs a wrongful death action for the survivors' pecuniary loss, which the courts read to include the value of lost household services, advice, and guidance, with a survival action for the decedent's pain and suffering and the earnings lost before death. Recovery is barred once the plaintiff's fault exceeds the combined fault of the defendants, most collateral-source benefits other than workers' compensation and life insurance are deducted from the award after verdict, and prejudgment interest on tort awards is provided by court rule, running from a fixed point after the complaint.
We issue the final report and provide deposition and trial testimony, rebuttal of opposing present value opinions, and revaluation when the plan is updated.
The same four steps apply to a personal injury case venued in New Jersey; the damages framework above decides which components enter the total. Establish the but-for earnings and fringe benefit base from the tax, wage, benefit, and personnel records, or from occupational data for a career still in training. Project the base over a statistically expected worklife with a stated wage growth rate and compare it with the post-injury path the record supports. Value household services from time-use data and local replacement rates, and price the future care in the life care plan item by item with medical cost growth. Discount every future stream to present value at a stated rate and show the sensitivity of the total to the contested assumptions.
New Jersey's trial judges act as gatekeepers under the state's own reliability inquiry, which weighs whether the method has been tested and accepted in the profession and whether it was reliably applied to the record, without adopting the federal standard outright; the witness is qualified by training and experience. An economic damages report meets that inquiry by tying each input to the record and naming the published source behind every rate and table. Personal Injury cases venued in New Jersey are heard in the Superior Court, Law Division (General civil and criminal matters; jury trials), with final appeals to the Supreme Court of New Jersey. Matters within federal jurisdiction proceed in the District of New Jersey.
New Jersey pairs a wrongful death action for the survivors' pecuniary loss, which the courts read to include the value of lost household services, advice, and guidance, with a survival action for the decedent's pain and suffering and the earnings lost before death. Recovery is barred once the plaintiff's fault exceeds the combined fault of the defendants, most collateral-source benefits other than workers' compensation and life insurance are deducted from the award after verdict, and prejudgment interest on tort awards is provided by court rule, running from a fixed point after the complaint. The report presents past and future amounts separately, states every rate and table with its source, and shows the result under the alternatives the other side is likely to argue, so counsel can apply the New Jersey rules to a documented figure.
Request a consultation on Life Care Plan Costing or call (201) 343-0700. Plaintiff and defense counsel.