Mesothelioma Trust Funds
Workers in a variety of industries suffered from asbestos exposure during years and even decades on the job. Some now have deadly mesothelioma, an asbestos-related cancer. It is a physical and emotional struggle, both for individual victims and those who care about them. The disease is also a financial burden.
Many companies have been negligent in exposing workers to asbestos and causing them to become ill. These companies have a responsibility to compensate sick 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 an aggressive cancer that is difficult to diagnose and to treat. Treatment options include surgery, chemotherapy, and radiation, as well as cutting edge and experimental therapies through clinical trials.
Treatments are expensive, and may also 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 to help.
One option is to seek an award from an asbestos trust fund. So far, we have been able to assist 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 makes life easier. Being stable financially allow you to focus on treatment and getting well.
Many of the companies that made asbestos-containing materials 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 have chosen to seek justice and get compensation for their illnesses by suing the negligent companies. Others have turned to asbestos trust funds. In the case of bankrupt companies, this may be the only options for holding responsible those who caused harm.
Many companies that used asbestos went into bankruptcy because of the costs of lawsuits. Getting money through a lawsuit for one of these companies is not typically possible. As an alternative, many asbestos victims have been compensated through trust funds.
Bankruptcy protects companies from lawsuits. However, this does not mean they are exempt from compensating victims. These companies had to set up trust funds to cover the costs brought by claims from exposure victims.
These trust funds are designed to pay out both current and future claims. The courts must approve the amount of money put into the fund to ensure there will be enough for expected 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. 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.
Estimating the amount of future claims is an important part of the 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 and approve the reorganization and trust fund plans, including 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 are responsible for setting up asbestos trust funds for bankrupt companies. This ensures that the funding and the compensation decisions will be fair.
These trustees make claims decisions, not the negligent companies. They weigh evidence and follow set guidelines to decide on each individual claim. Trustees 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 claims amounts is the number of future victims expected to come forward. Trustees need to hold back adequate funds for victims of exposure 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 is entitled to receive 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 type of illness or injury caused by asbestos exposure, the severity of the illness, and the schedule of payments already ongoing for the trust fund.
Not everyone coming forward with a claim will receive the full amount. Trust funds may only be able to offer a portion of a full claim at the time a victim files.
The trust fund was set up to ensure enough money will be available to settle future claims, so current claims are sometimes cut short. Because mesothelioma is a disease that takes decades to develop, asbestos trust funds have to last.
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Future Claims
It can be comforting to know that anyone exposed to asbestos will be able to rely on the money in asbestos trust funds if they end up getting 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 live with an increased risk. 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.
Asbestos trust funds currently contain billions of dollars, but some people are concerned that it won’t be enough for all future claimants. 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 both file a lawsuit and 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 will 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 and 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?
Known as the FACT Act of 2010, this bill was written but never passed. It failed to become a law. There is always a possibility that a similar law will pass in the future, so asbestos victims need to know about it.
The Act was proposed by lawmakers who wanted to require asbestos trust funds to use a public database. This would report payouts and list information about claimants.
Lawmakers who proposed the FACT Act wanted to prevent individuals from making multiple claims on the same trust fund. Double dipping is illegal and has the potential to drain a fund before all claimants get access to compensation.
The FACT Act didn't have adequate support to pass because those who opposed it felt it wasn't needed. Double dipping, critics said, rarely occurred. 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 unknown. If it does, it could put 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. When filing, you must prove you have an injury or illness related to asbestos exposure.
Be prepared to present 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 information about how and where the asbestos exposure occurred.
If your claim is valid, you will receive a decision about the amount of money you are entitled to receive from the trust fund. This depends upon how severe your illness is and on 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 are granted. Trustees process claims as they are received. To secure your compensation, Act Today.
Filing a Claim
When you're ready to get started on a claim, we'll send you information on over 20 bankruptcy trusts. This packet will help you understand your options for filing. It includes 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 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 try to ensure the fund amount remains adequate for future claimants, but there are no guarantees. It is important that you act immediately for the best chance of getting funds. Even if you don't know where you were exposed, you should act to 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 help you move through the process quickly because we know how important it is to access funds for medical expenses as soon as possible. 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 information on over 20 bankruptcy trusts. This packet will help you understand your options for filing. It includes 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 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 try to ensure the fund amount remains adequate for future claimants, but there are no guarantees. It is important that you act immediately for the best chance of getting funds. Even if you don't know where you were exposed, you should act to 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 help you move through the process quickly because we know how important it is to access funds for medical expenses as soon as possible. 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 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
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