COVID-19 and life expectancy. What we know so far.

2020…what a ride, am I right? But just how much of an impact did COVID-19 and the resulting pandemic have on average life expectancy? Even more, how does that impact economic damages? I’m going to skip straight to the punchline, and then we will get into the nitty-gritty: The CDC has reported that in 2020, …

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Why personal consumption matters in determining damages

“It’s pretty simple, right? For personal consumption I just take the decedent’s annual wages, multiply it times the number of years he would have still been working, and that should be the damages, right?” We have all been on either side of phone calls just like this one, and I am confident in saying that …

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Mitigation – A Key Issue in the Assessment of Damages

A damages award must consider steps the plaintiff took, or reasonably could have taken, to mitigate the alleged losses. The defendant has the burden to prove that losses could have been avoided by reasonable efforts of the plaintiff without causing undo expense or risk. Duty to Mitigate One of the principles limiting recovery of damages …

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Hardship Distributions Requirements

If your plan allows for hardship distributions, as a Plan sponsor you are required to verify that proper evidence has been obtained which verifies the participant has immediate and necessary need for the distribution. The Internal Revenue Service (“IRS”) has stated that certain expenses are considered immediate and necessary. These expenses include the following: • Medical …

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