Asbestos Trust Funds

What Are Asbestos Trust Funds?

Asbestos trust funds are bank accounts established to compensate those affected by mesothelioma and other asbestos-related diseases.

Manufacturers of asbestos-containing products that filed for bankruptcy reorganization to dodge lawsuits were ordered to create mesothelioma trusts to pay those harmed. Billions of dollars have already been paid to asbestos victims and their families.

Key Facts About Mesothelioma Trust Funds

• It’s estimated that asbestos trust funds contain over $30 billion today.
• 60+ companies have set up trust funds for mesothelioma and other asbestos diseases.
• The average total payout is between $300,000 and $400,000.
• Claimants often start to receive financial compensation in 90 days or less.

A mesothelioma attorney can identify the asbestos trust funds that you qualify for and file claims with each one to maximize your total payout.

Get a free case review now to see if one of the asbestos attorneys in the LawFirm.com network can access asbestos settlement trust money on your behalf.

Eligibility for Asbestos Trust Compensation

You may be eligible to seek asbestos or mesothelioma trust fund compensation if you were:

• Exposed to an asbestos-containing product made by a company with a trust fund
• Later diagnosed with mesothelioma or another asbestos disease like lung cancer

You may also be able to file an asbestos claim after death if a family member has passed away from an asbestos-related illness.

Even if you’re not sure how you were exposed, LawFirm.com may still be able to help. We work with mesothelioma lawyers who can identify the products that made you sick and the companies that made them.

“I don’t think people quite understand how those trust funds are put together. The money is there. It has been put there to meet the needs of mesothelioma families and to pay them. Don’t feel guilty about it.”

– Sheryl, daughter of Burlene, who worked with our partner firm

Filing a Mesothelioma Trust Fund Claim

The mesothelioma lawyers in our network understand the challenges of navigating a diagnosis, so they strive to make the claim process as easy and stress-free as possible.

An attorney can handle the legal process by:

1. Determining your eligibility: Get a free case review to see if one of our legal partners may be able to pursue compensation from asbestos trust fund settlements on your behalf.
2. Investigating your case: Top mesothelioma law firms have databases of information to identify the asbestos products you came in contact with and the companies that made and sold them.
3. Collecting evidence: Your legal team will gather evidence about your mesothelioma diagnosis, work history, and asbestos exposure to build your mesothelioma trust fund claim.
4. Filing your claims: Your lawyer will file claims with all of the asbestos bankruptcy trust funds that you qualify for, maximizing the value of your case.
5. Accessing compensation: Once your claims are approved, you will receive trust fund payouts.

Your team will keep you informed as your claim moves forward and work to secure compensation as quickly as possible.

Asbestos Trust Fund Payouts

An individual asbestos trust fund claim is worth about $41,000 on average, according to the RAND Institute for Civil Justice. However, many victims were exposed to multiple asbestos products, meaning they’re eligible to file claims with more than one trust.

For example, one of the mesothelioma law firms in our network helped a U.S. Navy veteran with mesothelioma access $2.4 million in trust fund money. He had worked as a pipeline inspector but was unsure about the products that exposed him to asbestos.

The law firm was able to identify the products that had made him sick and take legal action on his behalf.

Timeline for Mesothelioma Trust Fund Payouts

Mesothelioma victims often start to receive trust fund compensation in 90 days or less. However, the payout timeline can be affected by how the fund is reviewed by administrators.

Claims can be reviewed in one of two ways:

• Expedited review: Victims of asbestos exposure get a fixed amount of compensation with this option. Every claimant with the same disease receives the same compensation amount, typically resulting in quicker access to mesothelioma compensation fund money.
• Individual review: If a case is more complicated, a lawyer can ask the trust fund administrators to review a victim’s medical records and asbestos exposure history. This review process takes longer, and the victim could receive more or less compensation than an expedited review.

Your attorney can explain the type of review that’s best in your case and estimate how long it should take for you to access compensation. They can navigate the complexities of trust funds, expedite claims, and maximize compensation.

Factors That Affect Mesothelioma Settlement Fund Amounts

Mesothelioma trust funds award different amounts of compensation depending on a variety of factors.

Factors that can impact mesothelioma and asbestos trust fund payouts include:

• Your diagnosis: The asbestos-related disease you have, its severity, and how it has impacted your life can affect how much asbestos trust fund compensation you get.
• How many products you were exposed to: The more asbestos products you were exposed to, the more asbestos trust fund claims you can potentially file.
• Payment percentages: Each trust pays out a certain percentage of a claim’s total value to make sure money is left to pay future claimants.
• State law: State laws regulate asbestos litigation and often place limits on trust fund claim values.

The best way to maximize trust fund payouts is to get help from an experienced mesothelioma lawyer. They can help you prove that you were exposed to a company’s products and file as many claims as possible on your behalf.

Asbestos Trust Fund List

More than 100 companies have set up mesothelioma trust funds, and over 60 are still active today.

Some of these companies are listed below, along with the name of their trust fund and the year it was established.

Show More Trust Funds

This is not a complete list. Other companies have established mesothelioma trust funds to compensate those they’ve harmed.

If you worked for one of these companies or with the products they manufactured and have been diagnosed with an asbestos-related disease, you may be owed money.

Get a free case review to see if you may be able to access compensation from mesothelioma trust funds.

Differences Between Asbestos Trust Fund Claims and Lawsuits

Asbestos trust fund claims and mesothelioma lawsuits can both award compensation for asbestos-related diseases and hold negligent manufacturers accountable. However, there are some significant differences between the two.

The chart below shows the main differences between mesothelioma trust fund claims and lawsuits.

In many cases, victims who have been harmed by asbestos-containing products can file both types of mesothelioma claims.

Deadlines for Asbestos Trusts

Asbestos victims have a limited amount of time to file claims with asbestos trust funds. Each trust fund sets its own filing deadlines, similar to statutes of limitations in asbestos lawsuits.

Once a trust’s deadline passes, you will not be able to file a claim and pursue compensation.

For this reason, it’s a good idea to contact an asbestos lawyer as soon as possible. They can explain the deadline that applies in your case and file your claim while there’s still time.

If the time limit has expired, they may be able to pursue other types of mesothelioma compensation for you.

Get Help Filing Mesothelioma Trust Claims

If you or a loved one has mesothelioma or another asbestos-related disease, you may be entitled to compensation from asbestos trust funds.

You can access your share of the more than $30 billion in mesothelioma trust funds without filing a lawsuit or going to court. In many cases, victims start getting trust fund payments in 90 days or less.

Our legal partners have recovered over $10.1 billion for families affected by asbestos exposure through trust fund claims and other sources.

Call (866) 447-8466 right now or get a free case review to see if you may be entitled to compensation.