Mesothelioma settlements are payouts made by companies being sued by patients with asbestos-related diseases. The average mesothelioma settlement is between $1 million and $1.4 million. These settlements are usually awarded quickly. Learn how to pursue a settlement.
What Is a Mesothelioma Settlement?
Settlements are the most common outcome of a mesothelioma personal injury lawsuit. Through a mesothelioma lawsuit settlement, manufacturers of asbestos-based products agree to pay the patient or their surviving family members. In return, the legal action stops.
Mesothelioma patients can use the money from a settlement to pay for anything they need or want, including medical bills, living expenses, or even vacations.
Furthermore, the asbestos lawsuit settlement process does not impact a person’s ability to file for benefits from the U.S. Department of Veterans Affairs (VA). This means veterans with mesothelioma can simultaneously receive compensation both from the VA and from mesothelioma lawsuit settlements.
Video Summary: VA-accredited attorney Eric Hall explains how veterans can access financial compensation. As of 2023, the VA pays $3,500+ per month in disability to veterans with mesothelioma. Call (877) 450-8973 to learn more and file for compensation. View Transcript
Any veteran who has mesothelioma as a result of their exposure to asbestos while serving in the military is entitled to VA compensation. Veterans who have been diagnosed with mesothelioma as a result of their service in the military are likely to receive a benefit of $3,500 of monthly income, tax-free to the veteran.
In addition to VA benefits, there are other types of compensation that are available to veterans who have been exposed to asbestos and developed mesothelioma. We encourage veterans to call and find out how we can help them.
An experienced mesothelioma lawyer can help veterans pursue mesothelioma lawsuit settlements and get the money they deserve.
Average Mesothelioma Settlement Amounts
The average mesothelioma settlement is $1 million to $1.4 million, according to Mealey’s® asbestos litigation report.
A mesothelioma patient may receive more or less than this average, depending on the individual factors in their case.
Factors Affecting Mesothelioma Settlement Amounts
A mesothelioma settlement offer may depend on:
Asbestos Exposure
Arguably, the most important factor that affects a settlement is your asbestos exposure history. A mesothelioma law firm can look at your military and work history to see when and where your exposure likely occurred.
Diagnosis
What asbestos-related illness you have can affect your settlement payout. Cancers like mesothelioma and lung cancer may award more than non-cancerous illnesses like asbestosis.
Out-of-Pocket Expenses
Your lawyer will try to get the most money possible from a settlement. They’ll want to make sure you have money to cover your medical expenses, lost wages if you or your loved ones can’t work, and pain and suffering.
Number of Defendants
Your case may be filed against many different defendants (asbestos companies), depending on which asbestos-based products you were exposed to. Having more defendants can potentially increase your overall settlement payout.
Statutes of Limitations
These are laws set by each state that limit the amount of time you have to pursue asbestos litigation. You won’t be able to file a mesothelioma claim or reach a mesothelioma settlement if you wait too long. A lawyer can help you file your case before this time frame passes.
Recent Mesothelioma Settlements
A lawyer can see how much money you may receive from mesothelioma lawsuit settlements. Connect with a mesothelioma lawyer to get started.
Mesothelioma Settlements vs. Trial Verdicts
Settlements are often awarded through negotiations between the plaintiff (the mesothelioma victim) and defendants (manufacturers of asbestos-based products) in a lawsuit.
The case goes to trial if a settlement cannot be reached. A judge and/or a jury then review the case and determine whether the plaintiff is entitled to receive mesothelioma compensation.
While mesothelioma trial verdicts may award more compensation if a plaintiff wins, these instances are rare because of the high risks associated with them.
Benefits of Settling a Mesothelioma Lawsuit
There are many benefits to settling a mesothelioma lawsuit.
- Effectiveness: Remember, settlements can award $1 million or more — life-changing money for you and your family members. You can use settlement payouts for anything once you receive them, including medical bills, household expenses, and much more.
- Security: Your attorneys can negotiate a set amount you’ll receive through a settlement. By contrast, there’s no way to know how much compensation (if any) you’ll get from a mesothelioma trial.
- Speed: Settling a mesothelioma lawsuit is faster than taking the case all the way through to a trial. Some people may start getting money in 90 days or less through settlements.
A skilled mesothelioma attorney can determine if a settlement or a trial is better for your case. Settling will likely be the best option, but your attorneys can prepare the case for a trial if one is needed.
Why Defendants Want to Reach Mesothelioma Settlements
It’s improbable that defendants will want a mesothelioma lawsuit to go to trial.
Defendants don’t have to risk paying punitive damages in an asbestos settlement. These are extra payments for the plaintiff awarded to punish the defendants in a trial setting. Taking a case to trial is also more expensive than settling.
Most settlements occur before a trial, but some occur mid-trial or after a mesothelioma verdict has been rendered. An attorney can keep you updated and let you know if a defendant has agreed to a settlement.
Process to Reach a Mesothelioma Lawsuit Settlement
1. Gather Evidence and Prepare the Claim
An experienced mesothelioma attorney gathers information about your asbestos exposure and cancer diagnosis.
This information may include:
- Corporate documents from manufacturers of asbestos-based products
- Medical records that confirm the mesothelioma diagnosis
- Military service records and civilian work history
Lawyers will then build a case that explains how you got sick from asbestos exposure and why the defendants are to blame.
If your lawyers discover that a company they want to sue is bankrupt, they may recommend filing an asbestos trust fund claim. Bankrupt companies cannot be sued but were forced to set aside money in trusts to pay those who were harmed by their asbestos-containing products.
2. File the Claim
The next step in the legal process is to file the asbestos claim in the court system. You won’t have to file the claim yourself — your legal team will do it on your behalf.
Our team can connect you with lawyers who can pursue settlements on your behalf. Start the process now by connecting with a mesothelioma lawyer.
Remember, filing a legal claim does not affect your ability to pursue VA benefits if you’re a veteran.
Once the claim has been filed, the defendants get a chance to review it and can either accept or deny it. Generally, they will try to deny responsibility at first.
3. Discovery Phase
If the defendants deny the claim, another round of evidence collection, known as discovery, will begin.
During this process, each side may request documents from the other to strengthen their arguments. Depositions (written, in-person, or virtual interviews) may also take place during this stage. A lawyer can help you prepare for this type of questioning, if needed.
4. Settlement Negotiation
If your case is strong, the defendants will often agree to enter mesothelioma settlement negotiations instead of going to trial.
A top mesothelioma lawyer will then try to get the most amount of money possible on your behalf. They will use the facts of the case to ensure that a fair settlement is reached.
Mesothelioma lawsuit settlements are almost always reached during this process, but some settlement negotiations may fail. The lawsuit may proceed to a trial in these cases, where a verdict will be decided by a judge or jury.
Pursue Mesothelioma Settlements With Legal Help
It’s helpful to work with an experienced lawyer to reach a mesothelioma settlement. Mesothelioma and asbestos attorneys can make the legal process much easier for you and your family.
Remember, a top mesothelioma lawyer can:
- Build a strong case on your behalf.
- Help you understand your legal options.
- File your mesothelioma claim.
- Negotiate the highest possible settlement for you.
Contact us right now to see if you can work with a lawyer to pursue a mesothelioma settlement.
FAQs About Mesothelioma Settlements
Are mesothelioma settlements taxable income?
A mesothelioma settlement may or may not be subject to state and federal taxes. A lawyer can determine whether a settlement will be taxed in your case.
Who receives money in a mesothelioma wrongful death settlement?
You may be able to file a wrongful death lawsuit if your spouse, parent, or other loved one died from mesothelioma or another asbestos-related disease. A qualified lawyer can help you pursue a mesothelioma settlement after death.
What are mesothelioma class-action settlements?
Class-action lawsuits are filed by large groups of people. In such instances, the settlement amount would be divided between all those named in the suit.
Most mesothelioma lawsuits today are not filed as class-action. Clients often receive more money through an individual settlement rather than a class-action settlement.
How long does it take to reach a mesothelioma settlement?
Asbestos lawsuit settlements can happen any time after the claim is filed. The first settlement payments from a lawsuit could arrive in 90 days or less.
Mesothelioma and asbestos lawyers can help clients and their families receive the largest mesothelioma settlements in the shortest amount of time possible. Reach out to our team at (877) 450-8973 to start the process.
What is needed to reach a mesothelioma settlement?
You will need a skilled mesothelioma lawyer to reach a settlement. Mesothelioma and asbestos attorneys who have successfully handled past mesothelioma cases can file a lawsuit on your behalf and negotiate strong settlements.
It is very difficult to reach a settlement without legal assistance. Connect with an asbestos attorney today.
What is the average settlement for an asbestos claim?
Settlement values for asbestos cases can vary greatly depending on the type of disease a person has, how serious it is, and other factors.
Plaintiffs typically receive between $1 million to $1.4 million on average if they have developed mesothelioma due to asbestos exposure.
