Mesothelioma Trust Funds
Workers in a variety of industries suffered from asbestos exposure on the job. Some now have deadly mesothelioma, an asbestos-related cancer. It is a physical and emotional struggle, both for the victims and those who care about them. This disease is also a major financial burden.
Many companies are now considered to have been negligent in exposing workers to the asbestos that triggered illness. These companies have a responsibility to compensate sick workers. One way that these victims can access compensation is by filing a claim with mesothelioma and asbestos trust funds.
FREE Mesothelioma Packet includes:
- New Treatment Options
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Mesothelioma is an aggressive cancer. It grows quickly and is difficult to diagnose and to treat. Options for treatment include surgery, chemotherapy, and radiation, as well as cutting edge and experimental therapies through clinical trials.
Treatments are expensive. Costs may include medical care and traveling to a specialty cancer center. Most patients can no longer work and earn a paycheck. These costs add up quickly, but there are options for getting compensation.
One is to seek an award from an asbestos trust fund. We have already assisted thousands of mesothelioma patients and asbestos victims in taking this step. We have helped them access the money in trust funds to pay for treatment and to cover other expenses, like travel and home care.
We can help you too. Being in a strong financial position during this time won't cure your cancer, but it will make life a little easier. Being stable financially allows you to focus on treatment and healing.
Many of the companies that made asbestos-containing materials set up billions of dollars in trust funds for victims. These victims of asbestos exposure can file a claim with the right trust fund to get compensation, even if the company in question has long gone bankrupt or out of business.
The creation of
Asbestos Trust Funds
Some victims of asbestos exposure have chosen to seek justice and get compensation for their illnesses by filing lawsuits against the negligent companies. Others have turned to asbestos trust funds. When the responsible company no longer exists and went through bankruptcy protection, this may be the only option for seeking compensation.
Many companies that used asbestos sought bankruptcy protection because of the high costs of lawsuits. Victims cannot file lawsuits against one of these companies. As an alternative, many asbestos victims have been compensated through trust funds.
Bankruptcy may protect companies from lawsuits, but this does not mean they are exempt from compensating victims. Bankruptcy courts required that these companies set up trust funds to cover the costs brought by claims from exposure victims.
Asbestos trust funds are designed to pay out both current and future claims. As funds are established, the courts approve the amounts used to fund them. These must include adequate funding to compensate future claimants.
All of this must be done before a company's bankruptcy plan can be approved. The court allows the plaintiffs’ representatives to weigh in and help make the final decision on funding amounts. Both sides estimate how much money is needed in a trust. The amount should be enough to pay all existing claims as well as those that made in the future.
Estimating how much money future claimants may need is an important part of determining how much money a company places in a trust. Many victims of asbestos exposure do not get sick for decades. The judge in a bankruptcy hearing must listen to arguments from both sides and approve the reorganization and trust fund plans. This includes adequate funding for future claimants.
Believe you’re entitled to compensation?
Call us at 1-800-692-8608 and find out whether you are eligible to receive compensation from the $30 Billion Trust Funds. There is a time limit and claims are reviewed and decided on a first come, first serve basis, so there is no time to lose in filing your claim. We can help, so contact us as soon as possible.
What is involved in
Trust Fund Decisions?
Unbiased third parties took control of setting up asbestos trust funds for bankrupt companies. This ensured that the funding and the compensation decisions would be fair.
The trustees in charge of the funds weigh evidence and follow set guidelines to make a decision on each claim. They consider each claim on the basis of the evidence for asbestos exposure and illness, the amount of money in the fund, and the severity of an individual's illness.
Another factor in determining claim amounts is the number of future victims expected to come forward for compensation. Trustees must hold back enough money to provide for exposure victims who get sick in the future. Trustees have a responsibility to ensure that the trust fund will not run out of money before all future claims are settled.
What are the
Compensation amounts?
The amount of compensation that an asbestos victim can get from an asbestos or mesothelioma trust fund depends on several individual factors. There is no guaranteed amount for anyone.
Factors that influence the compensation decisions include the illness or injury caused by asbestos exposure, the severity and progression of the illness, and the schedule of payments already in place for the trust fund.
Not everyone coming forward with a claim will receive the full amount to which they are entitled. Trust funds may only be able to offer a portion of a full claim at the time a victim files.
This is because the fund was set up to ensure enough the money would last long enough for future claims. Current claims are sometimes cut short. It may seem unfair, but because mesothelioma is a disease that takes decades to develop, the funds must last.
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Future Claims
It's comforting to know that anyone exposed to asbestos will be able to rely on the money in asbestos trust funds if they do get sick. It can take decades to be diagnosed with an illness after asbestos exposure, and the funds were created to meet these future needs.
Someone exposed to asbestos may be lucky enough to never develop a related illness, but they will always have an increased risk. They may need that trust fund money in the future, and they will have the same right to it as those who claim on it now.
Asbestos trust funds currently contain billions of dollars, but some people are concerned that, despite best efforts of the trustees, it won’t be enough. It's hard to say now if this is a valid concern, but the process of deciding on the amount of money used to establish a fund is detailed and takes expected future claimants into account.
Claims and Lawsuits
A worker exposed to asbestos may choose to file a lawsuit and also file a claim with an asbestos trust fund at the same time. Making a claim on a trust fund can impact and possibly lessen the amount of compensation awarded in a lawsuit or settlement.
Each state has its own laws that determine just how much each each type of claim affects the other. An experienced mesothelioma and asbestos lawyer can help you make the best decisions regarding claims and compensation to ensure you get as much as possible.
Asbestos victims may file personal injury claims, while their families may file wrongful death lawsuits. State laws vary but may dictate that trust payments already made can be deducted from settlements or court awards in a lawsuit.
What is the
Furthering Asbestos Claim
Transparency (FACT) Act?
The FACT Act of 2010 was a law that went through Congress but never passed. Asbestos victims should still be aware of FACT because there is a chance a similar bill will become law in the future.
Lawmakers who wrote and sponsored the bill were concerned that asbestos victims might try to game the system of asbestos trust funds and try to claim more than once.
They wanted to require asbestos trust funds to use a public database first proposed the FACT Act. This database would report payouts and list information about claimants.
The FACT Act didn't have adequate support to pass. Those who opposed it felt it wasn't needed. Double dipping in trust funds is a rare occurrence. Critics also believed that putting claimants’ personal information into a public database represented a significant breach of privacy.
Whether another similar law will pass in the future is not known. If it does, it could put your privacy rights at risk.
Can you explain the
Trust Fund Claims Process?
Filing a claim is the first step in getting compensation from an asbestos trust. Be prepared to file with your medical records and other evidence to prove your claim. A valid claim should include a diagnosis from a physician along with documentation that the illness is related to asbestos. It should also include details about asbestos exposure.
If your claim is valid, you will receive a decision about the amount of money you are entitled to receive from the trust fund. The amount depends upon how severe your illness is and how many future claims the trust fund is expected to see.
The trustee of the fund makes decisions about the validity of claims and the amount of compensation claimants will receive. Trustees process claims as they are received. To ensure you receive your share of the compensation, Act Today.
Filing a Claim
When you're ready to get started on a claim, we'll send you the information for more than 20 bankruptcy trusts. This will help you understand your options for filing. It includes the names of available trusts, the links to the claim forms for each trust, and more. If you still have questions about which trusts to file with, or whether you can file with more than one, we can help you find those answers.
Act Quickly
Claims through trust funds are paid in the order in which they are received. Trustees aim to keep adequate funds for future claimants, but there are no guarantees. It is important to act immediately for the best chance of receiving the compensation you need. Even if you don't know where you were exposed, act now and file as quickly as you can. This is crucial in making sure you get your claim in on time and avoid any statutes of limitations on compensation.
Fast and Easy
We have helped many people get compensation from asbestos trusts in just 90 days. We know how important it is to access funds for medical expenses. The added stress of filing claims and trying to get the compensation is the last thing you need while fighting serious illness. Our caring support staff will help you step-by-step through the process to make your claim as smooth as possible.
Filing a Claim
When you're ready to get started on a claim, we'll send you the information for more than 20 bankruptcy trusts. This will help you understand your options for filing. It includes the names of available trusts, the links to the claim forms for each trust, and more. If you still have questions about which trusts to file with, or whether you can file with more than one, we can help you find those answers.
Act Quickly
Claims through trust funds are paid in the order in which they are received. Trustees aim to keep adequate funds for future claimants, but there are no guarantees. It is important to act immediately for the best chance of receiving the compensation you need. Even if you don't know where you were exposed, act now and file as quickly as you can. This is crucial in making sure you get your claim in on time and avoid any statutes of limitations on compensation.
Fast and Easy
We have helped many people get compensation from asbestos trusts in just 90 days. We know how important it is to access funds for medical expenses. The added stress of filing claims and trying to get the compensation is the last thing you need while fighting serious illness. Our caring support staff will help you step-by-step through the process to make your claim as smooth as possible.
Page Written by Rod De Llano, Esquire
- U.S. Congress. (2017, February 24). H.R. 906 - Furthering Asbestos Claim Transparency (FACT) Act of 2017.
Retrieved from: https://www.congress.gov/bill/115th-congress/house-bill/906/text - Dixon, L. & McGovern, G. (2015). Bankruptcy's Effect on Product Identification in Asbestos Personal Injury Cases.
Retrieved from: https://www.rand.org/content/dam/rand/pubs/research_reports/RR900/RR907/RAND_RR907.pdf - Dixon, L. & McGovern, G. (2011). Asbestos Bankruptcy Trusts and Tort Compensation.
Retrieved from: https://www.rand.org/content/dam/rand/pubs/monographs/2011/RAND_MG1104.pdf
Where can I
Get Additional Help?
For over 20 years, we’ve provided the best FREE resources to mesothelioma patients and loved ones. Our resources include information on the leading treatment options and best doctors in your area; lessons learned from survivors; claims and benefits specifically for Veterans; and how to access your share of billions of dollars in trust fund money.
Get Your FREE Resources Sent Overnight
- New Treatment Options
- Veteran‘s Benefits & Claims
- $30 Billion Asbestos Trust Fund Information
Where can I
Get Additional Help?
For over 20 years, we’ve provided the best FREE resources to mesothelioma patients and loved ones. Our resources include information on the leading treatment options and best doctors in your area; lessons learned from survivors; claims and benefits specifically for Veterans; and how to access your share of billions of dollars in trust fund money.
Get Your FREE Resources Sent Overnight
- New Treatment Options
- Veteran‘s Benefits & Claims
- $30 Billion Asbestos Trust Fund Information