Mesothelioma Trust Funds
Many of the workers who were exposed to asbestos after years and even decades in their jobs are now living with and suffering because of the devastating diagnosis of mesothelioma. Living with this asbestos-related cancer is a physical and emotional struggle, both for individual victims and those who care about them. The physical and emotional toll is serious, but this disease is also a financial burden.
The negligence of many companies in exposing workers to asbestos and causing them to become ill has come to light in recent decades. These companies have a responsibility to compensate those workers. One way that the responsible parties have chosen to provide that compensation is through the administration of mesothelioma and asbestos trust funds.
FREE Mesothelioma Packet includes:
- New Treatment Options
- Veteran‘s Benefits & Claims
- $30 Billion Asbestos Trust Fund Information
Mesothelioma is a difficult cancer to treat. It is aggressive and tough to diagnose. Treatments include surgery, chemotherapy, and radiation, as well as cutting edge and experimental therapies. Getting treated often involves traveling to a specialty cancer center and missing work. All of this adds up and costs patients, but there are options for getting justice and compensation.
One of these is to seek funding from asbestos trust funds. We have helped thousands of mesothelioma patient access this money to cover medical bills, costs of living, and transportation, and alternative therapies. Having enough money at this difficult time won't reverse the course of the disease, but it can make life easier.
Many of the companies that made asbestos-containing materials and exposed workers to this deadly mineral have set up billions of dollars in trust funds. Victims of asbestos exposure and illness 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 choose to get justice and compensation for their illnesses by suing the companies negligent in exposing their workers. Many of these companies, however, have gone out of business or have filed for bankruptcy. Getting money through a lawsuit in these instances may not be possible, but there is another option.
Bankruptcy protects companies from lawsuits, but those that exposed workers to asbestos have been required to set up funding to compensate those victims as a part of the process. These trust funds are designed to pay out current and future claims, and the courts must approve the amount to ensure it will be enough before a company can be given bankruptcy protection.
Before a company is eligible for bankruptcy protection, it must first submit plans to the court for reorganization. This has to include plans for setting up an asbestos trust fund. The court holds proceedings so that the company and the plaintiffs’ representatives can weigh in and help make the final decision. Both sides must estimate how much money is needed in a trust fund to pay all claims now and those that may arise in the future.
Because mesothelioma is often not diagnosed in workers until decades after the exposure occurred, estimating future claims is an important part of the determining how much money a company must place in a trust. The judge listens to arguments and either approves the reorganization and trust fund plans or sends the company back to the beginning to try again.
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?
Trust funds are set up on behalf of asbestos companies, but not by the companies themselves. This ensures the fairness of decisions over whether or not a claimant gets compensation and how much money they receive. The company has no role in the operation of the trust fund and does not review claims or make decisions.
Claim decisions are made by trust fund trustees, who weigh evidence and follow guidelines to decide on each individual claim. These decisions are considered on the basis of the evidence regarding asbestos exposure and illness, the amount of money in the fund, and the severity of an individual's illness. Those claimants with the more severe medical conditions are entitled to greater amounts of compensation, but evidence is needed for final decisions to be made.
Another factor used in determining claims is how many future claimants are expected. Trustees need to hold back adequate funds in the trust fund for victims of exposure who come forward 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 some historical
Compensation amounts?
The amount of compensation that a claimant may receive from an asbestos or mesothelioma trust fund depends on several factors and varies by individual. Not every claim will result in the same amount awarded, and it is important to understand what goes into these individual decisions.
The type of illness or injury caused by asbestos exposure, its severity, and the schedule of payments that have been established for the trust fund all influence compensation amounts. Also in consideration is how extensive the exposure to asbestos was and for how long.
It is also important to note that not every claimant will get 100 percent of the claim amount. Trust funds may only be able to offer part of a full claim amount at the time that it is filed. This occurs because the trust fund must ensure that it will have enough money to settle future claims. Mesothelioma is a disease that takes decades to develop, so the asbestos trust funds must last for many years.
Free consultation with Dave, our Patient Advocate, on how to quickly recover compensation from the $30 Billion Asbestos Trusts, Veteran Benefits, and by Filing Legal Claims.
For Quicker Compensation for medical and other expenses - call Dave today!
Get started now on recovering from the $30 Billion in Asbestos Trusts Funds, VA Benefits and/or Filing a Legal Claim.
Future Claims
For anyone who has been exposed to asbestos, through any source, it is a great comfort to know that asbestos trust funds will have money in the future to cover their claims if they get sick. These future claimants may not develop a related illness, but they are at an increased risk as compared to the general public. They may need that trust fund money in the future, and they will have as much a right to it as those who claim on it now.
Currently, asbestos trust funds contain billions of dollars, but with the long latency period for mesothelioma, some people are concerned that it won’t be enough for all future claimants. When these trust funds are set up, the process of deciding on the amount is detailed and takes into account many factors that consider how many future claims there may be, such as how many people worked for a company and were exposed to asbestos. The process is designed to account for any future claims that may arise.
Claims and Lawsuits
An employee exposed to asbestos and made ill by that exposure may choose to file an asbestos lawsuit while also making a claim on an asbestos trust fund.
Claimants should know that filing for compensation from a trust fund may impact the amount of compensation awarded in a lawsuit. Each state has its own laws that determine just how much each each claim affects the other, but an experienced mesothelioma and asbestos lawyer can help guide smart decisions.
The types of lawsuits filed against asbestos companies include personal injury claims and wrongful death. Wrongful death cases are usually filed by a family member of a worker who died as a result of exposure to asbestos. Depending on state laws, any trust payments already made to a claimant may be deducted from court awards resulting from a lawsuit. This is known as a setoff.
What is the
Furthering Asbestos Claim
Transparency (FACT) Act?
The FACT Act of 2010 did not get passed into law, but it was proposed by lawmakers to require that asbestos trust funds use a public database to report payouts and to list information about claimants. This was intended to prevent individuals from making multiple claims on the same trust fund. Double dipping is not allowed and could drain a fund before all claimants get access to compensation.
The law was controversial and didn't have adequate support to pass because those who opposed it felt there was no need for it. Double dipping, critics said, was rare. They 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 unknown, but it could put privacy rights at risk.the law will eventually pass—it is currently archived—remains to be seen.
Can you explain the
Trust Fund Claims Process?
The first step in getting financial compensation from an asbestos trust fund—filing a claim—requires that you prove you have an injury or illness related to asbestos exposure.
This means getting proper medical care and a diagnosis so that you can present information that ensures your claim is valid. Typically a claim includes a physician’s diagnosis and statement, evidence of the site of exposure to asbestos, and medical documents that demonstrate asbestos contributed to the illness or injury.
The amount of compensation you may be entitled to receive is dependent upon how severe your illness is and on how many future claims the trust fund is expected to be required to handle. The trustee of the trust fund makes decisions on whether a claim is valid and how much that claimant should receive from the trust fund. All claims are processed in order of receipt, so to secure your compensation as soon as possible, Act Today.
Starting a Claim
Once you have decided to file a claim, we will work fast to send you a package providing information on over 20 bankruptcy trusts. This will help you understand your options and includes detailed information on the names of available trusts, the websites and links to the claim forms for each trust, and more. If you have questions about which trusts to start with, or whether you can file with more than one, we can help you find those answers.
Act Quickly
Claims are paid on a “first come, first served” basis, and while trustees try to leave funds back for future claimants, it can be guaranteed. It is important that you act immediately. Even if you don't know where you were exposed or if you aren't sure which past employer may have used asbestos, you should act to file as quickly as you can. Getting expert advice, while also acting quickly, 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 had success getting people paid within as little as 90 days from start to finish. Knowing how important it is to get the money you need to take care of medical expenses and for security for dependents, we help you move through the process quickly. The last thing you need now is the added stress of filing claims and trying to get the compensation. Our caring support staff will help you step-by-step through the process to make your claim as smooth as possible.
Starting a Claim
Once you have decided to file a claim, we will work fast to send you a package providing information on over 20 bankruptcy trusts. This will help you understand your options and includes detailed information on the names of available trusts, the websites and links to the claim forms for each trust, and more. If you have questions about which trusts to start with, or whether you can file with more than one, we can help you find those answers.
Act Quickly
Claims are paid on a “first come, first served” basis, and while trustees try to leave funds back for future claimants, it can be guaranteed. It is important that you act immediately. Even if you don't know where you were exposed or if you aren't sure which past employer may have used asbestos, you should act to file as quickly as you can. Getting expert advice, while also acting quickly, 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 had success getting people paid within as little as 90 days from start to finish. Knowing how important it is to get the money you need to take care of medical expenses and for security for dependents, we help you move through the process quickly. The last thing you need now is the added stress of filing claims and trying to get the compensation. Our caring support staff will help you step-by-step through the process to make your claim as smooth as possible.
Page edited by Dave Foster
Where can I
Get Additional Help?
For over 15 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 15 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