Asbestos trust funds were established by bankrupt manufacturers of asbestos-containing products in order to compensate those with mesothelioma and related diseases. A mesothelioma attorney can help victims pursue trust fund compensation if they have developed an asbestos-caused illness.
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What Is an Asbestos Trust Fund?
Asbestos and mesothelioma trust funds were created by asbestos companies that filed for bankruptcy.
These special trusts are designed to have enough money to compensate all of a company’s current and future asbestos exposure victims. See our asbestos trust fund list below.
Victims may be able to receive compensation for:
- Lung cancer
- Other asbestos-caused cancers
Mesothelioma is the most serious of these asbestos-related diseases because of its low survival rate. Due to its severity, patients with this cancer often receive the highest compensation amount possible from asbestos trust funds.
For immediate help accessing trust funds, reach out to our team of Patient Advocates today at (877) 450-8973.
How Much Trust Fund Money Can I Receive?
The median amount paid by trusts per mesothelioma claim is $41,000 according to the RAND Institute for Civil Justice, but this amount varies on a case-by-case basis.
Many mesothelioma victims qualify for compensation from multiple trusts.
Accessing Multiple Trust Funds
Most companies that made and sold asbestos products did not do so alone. They were part of complex supply chains that included multiple companies.
This means more than one company may be responsible for a victim’s asbestos-related illness. If this is the case, the victim might be able to file claims against multiple trusts, all of whom bear part of the responsibility.
The more trusts a victim is able to make claims on, the higher the total amount of mesothelioma compensation.
Asbestos Trust Fund Payment Percentages
By their very nature, asbestos trust funds were established to provide compensation for future claims. They deal with a limited amount of money that was set aside when the trusts were established.
Mesothelioma has a latency period of 20-50 years. This means that paying out a sum that bankrupts a company early on will use up all the funds for victims in the future.
To make sure that the trusts remain operational and future claimants have options for compensation, payment percentages were created. These percentages can range from 1-100% of the claim’s full value and can change over time as the financial status of the trust fluctuates.
For example, in a trust where the full claim amount is $100,000:
- 1% payment percentage = $1,000
- 50% payment percentage = $50,000
- 90% payment percentage = $90,000
This variation in payment amount makes filing a claim as soon as possible very important. The payment percentage is subject to change and be reduced, so it is best to file an asbestos trust claim as soon as possible.
- Asbestos Trust Funds
- Access Over $30 Billion
- Financial Assistance