Over the past several decades, many companies responsible for asbestos exposure filed for bankruptcy. As part of their restructuring, courts required them to set up mesothelioma trust funds to compensate victims. Today, over $30 billion remains available in these funds.
What Are Asbestos Trust Funds?
Asbestos trust funds are financial reserves established by bankrupt asbestos companies to pay victims who developed diseases like mesothelioma. Unlike lawsuits, trust fund claims don’t require court trials and can be processed faster. Mesothelioma Lawyer Center explains that these trusts ensure victims are compensated even if the responsible company no longer operates.
Who Is Eligible?
If you or a loved one was diagnosed with mesothelioma and can link your exposure to a company with a trust, you may be eligible. Veterans, shipyard workers, construction workers, and industrial laborers often qualify. Lanier Law Firm helps clients trace their exposure back to specific products and manufacturers.
How Do You File a Claim?
Filing a claim involves submitting medical documentation, work history, and evidence of asbestos exposure. According to Mesothelioma Guide, many lawyers can identify which trusts apply to your case within days.
Legal experts like those at Baron & Budd handle the paperwork and streamline the claim process to avoid delays.
Can You File Multiple Claims?
Yes. Many victims were exposed to asbestos products from multiple companies. Simmons Hanly Conroy notes that it’s common to file with several trust funds simultaneously, maximizing your compensation.
How Much Can You Receive?
Payouts vary depending on the severity of your illness and the trust’s funding. Some pay thousands, while others offer six-figure awards. Mesothelioma Hub provides examples of average payouts and helps explain why some cases are worth more.
How Long Does It Take?
While each trust has its own schedule, many claims are paid within 3–6 months. Delays can occur if documentation is incomplete. Weitz & Luxenberg helps clients organize evidence to accelerate payment.
Do You Need a Lawyer?
While you can file independently, working with a law firm increases your chances of success and helps you avoid under-compensation. MRHFM Law Firm has decades of experience in navigating trust fund rules.
Trust Funds and Lawsuits
Trust fund claims do not prevent you from also filing a lawsuit. Levy Konigsberg regularly helps clients pursue both simultaneously for maximum recovery.
Mesothelioma Help recommends beginning the legal process soon, as statutes of limitations still apply to trust fund claims.
