When manufacturers of asbestos products file for bankruptcy, they must set aside compensation for current and future asbestos victims in asbestos trust funds. There is currently an estimated $30 Billion available in these trusts, and Sokolove Law can help you pursue a portion of this money. We know the hardship mesothelioma brings on families like yours, which is why we fight for the justice you deserve.
What Are Asbestos Trust Funds?
Asbestos trust funds are a type of compensation set aside for victims of mesothelioma and other asbestos-related diseases. Companies that mined, produced, or used asbestos in their products and later filed for bankruptcy were forced to set aside funds, so people hurt by asbestos could file a claim for a portion of the money.
For nearly 40 years, manufacturers of asbestos-containing products have tried to limit their liability for the asbestos-related diseases they caused thousands of hard-working Americans to develop by filing for protection under the bankruptcy laws.
As a result, there’s an estimated $30 Billion in court-ordered funds available today to compensate current and future claims from mesothelioma patients and their families.
Filing an asbestos claim against a bankruptcy settlement trust typically moves more quickly through the system. It does not require you to give a deposition or go through a public trial in court. Further, depending on your exposure history, you may be able to access compensation from both mesothelioma trust funds and a lawsuit.
If you were exposed to multiple asbestos-containing products, you may qualify for compensation from multiple trusts. An experienced mesothelioma lawyer can help you determine your eligibility for trust fund compensation.
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Who Can File an Asbestos Trust Fund Claim?
Mesothelioma victims or immediate family members on their behalf may be eligible to receive compensation from the manufacturers of dangerous asbestos products that caused the disease. Even if your loved one is deceased, as their spouse or family member, you may be able to file an asbestos trust fund claim.
In short, the following people may be able to file an asbestos trust fund claim:
- Victims of mesothelioma or other asbestos-related diseases
- The victim’s spouse or immediate family members
- The victim’s estate representative
How to File an Asbestos Trust Fund Claim
With experienced legal representation, filing an asbestos trust fund claim can be a surprisingly straightforward process, one that we can help you navigate every step of the way — at no out-of-pocket cost.
When you work with Sokolove Law, your asbestos attorney and legal team can:
- Gather information about your work history and potential asbestos exposure
- Conduct a thorough investigation to identify the asbestos-containing products you may have been exposed to
- Find the evidence needed to prove your asbestos exposure and diagnosis
- Collect testimony (affidavit, sworn statement, or deposition) from people with knowledge of the exposure
- File the asbestos or mesothelioma trust fund claim(s) with any trusts established by the companies responsible for your exposure
- Secure mesothelioma trust fund compensation on your behalf once the claim is liquidated
In some circumstances, claimants may choose to file both an asbestos trust claim and a mesothelioma lawsuit. Filing both types of legal claims may be an option when a single asbestos-related illness was caused by several companies’ negligence.
However, the time that you have to file a claim is limited, as different states and jurisdictions have different time limits for filing known as the statute of limitations. If you delay, you could miss your shot at justice. The mesothelioma lawyers who work with Sokolove Law can help determine if you are still eligible and, if so, file your claim in time.
Average Asbestos Trust Fund Payout
Asbestos trust fund payouts are entirely dependent on a person’s diagnosis and individual exposure history, as well as how many different companies were responsible for their asbestos exposure. Trusts award different amounts of compensation depending on the type and severity of the asbestos-related disease or cancer.
Similarly, you will only qualify for asbestos trust fund compensation from companies that manufactured products your legal team can prove you were exposed to. For these reasons, there is no clear-cut way to determine exactly how much anyone can expect to receive from asbestos trust funds.
That being said, the median asbestos payout from bankruptcy trust funds is around $300,000 to $400,000, though that amount will vary greatly depending on the unique details of each claim. In some cases, asbestos claims can pay out as much as $750,000 or more.
Working with an experienced mesothelioma lawyer is the best way to maximize your potential compensation. The asbestos attorneys with Sokolove Law have a vast database of information and resources to determine which manufacturers are at fault for your illness — and, in turn, to pursue compensation from every possible avenue.
Asbestos Trust Funds: A Mesothelioma Case Study
A former operating engineer diagnosed with pleural mesothelioma received a total of $187,438 in asbestos bankruptcy claims. His legal team used his work and asbestos exposure histories to identify multiple products to which he was exposed.
He was also able to file additional asbestos lawsuits, which brought his total compensation to over $2 Million.
List of Asbestos Trust Funds
The following is just a partial list of asbestos companies with established trust funds set up to compensate current and future victims with valid asbestos personal injury claims.
|Company||Asbestos Trust Fund||Created|
|A-Best Products||A-Best Asbestos Settlement Trust||2004|
|A. P. Green Industries||APG Asbestos Trust||2014|
|A.B.B. Global Inc.||Lummus 524(g) Asbestos Personal Injury Trust||2006|
|A & I Corporation||A & I Corporation Asbestos Bodily Injury Trust||2005|
|ACandS, Inc.||ACandS Asbestos Settlement Trust||2008|
|API, Inc.||API, Inc. Asbestos Settlement Trust||2006|
|Armstrong World Industries||Armstrong World Industries, Inc. Asbestos Personal Injury Settlement Trust||2006|
|ARTRA Group, Inc.||ARTRA 524(g) Asbestos Trust||2007|
|Asarco, Inc.||ASARCO LLC Asbestos Personal Injury Settlement Trust||2009|
|Asbestos Claims Management Corp./National Gypsum Company||NGC Bodily Injury Trust||1993|
|Babcock & Wilcox Company||Babcock & Wilcox Asbestos Trust||2006|
|Bondex||Bondex Asbestos Personal Injury Trust||2016|
|Burns & Roe Enterprises, Inc.||Burns & Roe Asbestos Personal Injury Settlement Trust||2009|
|C.E. Thurston & Sons||C.E. Thurston & Sons, Inc. Asbestos Trust||2006|
|Celotex Corporation/Carey Canada, Inc.||Celotex Asbestos Settlement Trust||1997|
|Combustion Engineering||Combustion Engineering 524(g) Asbestos Personal Injury Trust||2006|
|Congoleum Corporation||Congoleum Plan Trust||2010|
|DII Industries, LLC (Dresser Industries)||DII Industries, LLC Asbestos Personal Injury Trust||2005|
|Eagle-Picher Corporation||Eagle-Picher Industries Personal Injury Settlement Trust||1996|
|EJ Bartells Co., Inc.||Bartells Asbestos Settlement Trust||2001|
|Federal Mogul Corp.||Federal Mogul U.S. Asbestos Personal Injury||2007|
|Ferodo||Federal-Mogul Asbestos Personal Injury Trust - Ferodo Subfund||2011|
|Flexitallic||Federal-Mogul Asbestos Personal Injury Trust - Flexitallic Subfund||2011|
|Flintkote Co./Flintkote Mines Ltd.||Flintkote Company and Flintkote Mines Limited Asbestos Personal Injury Trust||2015|
|General Motors||MLC Asbestos Personal Injury Trust||2012|
|G-I Holdings||G-1 Asbestos Settlement Trust||2009|
|Hercules Chemical||Hercules Chemical Company, Inc. Asbestos Settlement Trust||2011|
|H. K. Porter Co., Inc.||H. K. Porter Asbestos Trust||1998|
|J. T. Thorpe (C.D. Cal.)||J.T. Thorpe Settlement Trust||2006|
|J. T. Thorpe (S.D. Tex.)||J.T. Thorpe Company Successor Trust||2004|
|Johns-Manville Corporation/Philadelphia Asbestos Corp. (Pacor)||Manville Personal Injury Settlement Trust||1988|
|Kaiser Aluminum Corp.||Kaiser Asbestos Personal Injury Trust||2006|
|Keene Corp.||Keene Creditors Trust||1996|
|Kentile||Metex Asbestos Personal Injury Trust||2015|
|Leslie Controls||Leslie Controls, Inc. Asbestos Personal Injury Trust||2011|
|MacArthur Co./Western Asbestos Company||Western Asbestos Settlement Trust||2004|
|North American Refractories Co. (NARCO)||North American Refractories Company Asbestos Personal Injury Settlement Trust||2013|
|Owens Corning||Owens Corning Fibreboard Asbestos Personal Injury Trust - Owens Corning Subfund||2006|
|Owens Corning/Fibreboard Corp.||Owens Corning Fibreboard Asbestos Personal Injury Trust||2006|
|Pittsburgh Corning||Pittsburgh Corning Corporation Asbestos Personal Injury Trust||2013|
|Plant Insulation Company||Plant Insulation Company Asbestos Settlement Trust||2012|
|Plibrico Co.||Plibrico Asbestos Trust||2006|
|Porter-Hayden Co.||Porter Hayden Bodily Injury Trust||2006|
|Quigley Co.||Quigley Company, Inc. Asbestos Personal Injury Trust||2013|
|Raymark Corp./Raytech Corp.||Raytech Corporation Asbestos Personal Injury Settlement Trust||2000|
|Shook & Fletcher Insulation Co.||Shook & Fletcher Asbestos Settlement Trust||2002|
|T. H. Agriculture & Nutrition||T. H. Agriculture & Nutrition, LLC Asbestos Personal Injury Trust||2009|
|Thorpe Insulation Co./Pacific Insulation Co.||Thorpe Insulation Company Asbestos Personal Injury Settlement Trust||2006|
|Turner & Newall||Federal-Mogul Asbestos Personal Injury Trust - Turner & Newall Subfund||2007|
|United Gilsonite Laboratories||United Gilsonite Laboratories Asbestos Personal Injury Trust||2015|
|United States Gypsum Co./ USG Corp.||United States Gypsum Asbestos Personal Injury Settlement Trust||2006|
|United States Mineral Products||United States Mineral Products Company Asbestos Personal Injury Settlement Trust||2005|
|UNR Industries, Inc./Unarco Industries, Inc.||UNR Asbestos-Disease Claims Trust||1990|
|W.R. Grace & Co.||WRG Asbestos Personal Injury Trust||2014|
|Yarway||Yarway Asbestos Personal Injury Trust||2016|
Don’t see the company that made the products you were exposed to listed above? It doesn’t mean you don’t have a potential case or can’t access mesothelioma compensation.
After decades of mergers, acquisitions, and restructuring, many of the trusts have different names, but funds may still be available. Contact us today to learn more about what options may be available to you.
Mesothelioma Trust Funds and Other Types of Compensation
Based on your work history and the historical data collected by our mesothelioma lawyers over the past several decades, we are often able to link asbestos exposure to one or more asbestos-containing products, potentially made by more than one company.
Because of this, it’s possible that you may qualify for compensation in multiple ways, like from:
- Asbestos or mesothelioma trust fund claim(s): Depending on your exposure history, you may be entitled to asbestos payouts from multiple asbestos bankruptcy trust funds.
- Mesothelioma lawsuit settlements and verdicts: In addition to pursuing compensation from asbestos bankruptcy trusts, you may also be able to file a lawsuit against any companies responsible for your exposure that haven’t declared bankruptcy.
- Veterans Affairs (VA) benefits: Filing an asbestos claim also does not impact your VA benefits. As a veteran with mesothelioma or another asbestos-related disease, you may still seek assistance from the U.S. Department of Veterans Affairs in the form of disability compensation, health care coverage, and other benefits.
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File a Mesothelioma Trust Fund Claim With Sokolove Law
Sokolove Law is the first truly national mesothelioma law firm, with a national network of offices and licensed attorneys in nearly every state. Regardless of where you’re located, our legal team strives to provide clients like you with the personal attention you deserve.
After decades of experience, our mesothelioma attorneys understand occupational asbestos exposure and have access to a warehouse of files, evidence, and other resources on asbestos-containing products and where they were used. This will help determine the products you were exposed to.
If you or a loved one has been diagnosed with mesothelioma, you may be entitled to compensation. The experienced and knowledgeable Case Managers at Sokolove Law are ready to help you navigate the mesothelioma claims process. Get started today with a free case review.
Mesothelioma & Asbestos Trust Fund FAQs
Should I work with a lawyer to file a trust fund claim?
Asbestos litigation is complicated and can be difficult to figure out on your own. Working with a lawyer is often the best way to build a strong case and maximize the amount of compensation a client may receive.
Asbestos compensation payouts from trust funds are tied to asbestos exposure history — but many clients’ exposures occurred decades ago. In turn, it can be challenging to remember the exact asbestos products they were exposed to and which company manufactured them. This is why it is critical to work with an experienced mesothelioma law firm like Sokolove Law.
We maintain a proprietary database and warehouse full of evidence that we will utilize to determine if we have already represented someone from the same or similar jobsite, which helps us analyze the details of each individual claim. Contact Sokolove Law today to learn more about how we can help.
How much money is left in asbestos trust funds?
An estimated $30 Billion is still available to pay out claims to victims of asbestos exposure.
Can you pursue compensation for asbestosis and other asbestos-related diseases?
You may be eligible for financial compensation if you were diagnosed with other asbestos-related diseases, including asbestosis and lung cancer. Our team can help you determine if you may qualify for compensation.
Are asbestos trust fund payouts taxable?
Asbestos trust fund compensation tends to be tax-free — however, your mesothelioma lawyer can help you determine whether the money you receive is taxable.
Can asbestos trust fund claims impact asbestos lawsuits?
If multiple companies are responsible for someone’s exposure to asbestos, lawyers may be able to file both an asbestos trust fund claim and a mesothelioma lawsuit as a way to secure as much compensation as possible. Contact Sokolove Law today to learn more about what options are available to you.
Can a family member file an asbestos trust fund claim?
If your loved one was diagnosed with mesothelioma or another asbestos-related disease, you may be eligible to file an asbestos trust fund claim on their behalf, even if they have already passed away. Learn more about your legal options during a free, no-obligation review of your case.
What determines someone’s eligibility to file a mesothelioma trust fund claim?
Your ability to file a mesothelioma trust fund claim revolves around:
- You or your loved one’s asbestos-related disease or mesothelioma diagnosis
- The work history and asbestos exposure history
- Whether the company or companies that made the asbestos-containing products you were exposed to have established a trust fund
Not sure if you’re eligible? During a free, no-obligation case evaluation, our experienced legal team can review the details of your case and let you know what your legal options may be.
How long do I have to file an asbestos trust fund claim?
The time you have to file an asbestos trust fund claim may be limited by state laws called statutes of limitations, which restrict how long you have to take legal action. That’s why it’s important to contact a member of our team today. We can help you understand what your legal options are and help you file your claim before the deadline.
Who is responsible for my asbestos exposure — and how do I prove it?
Before we know who is responsible for your exposure to asbestos, we’ll need to learn a little bit more about your work history. From there, our team will handle gathering all of the evidence needed to prove your asbestos exposure history and file your claim with the asbestos-related company or companies responsible. Fill out our contact form today to get started.
Can multiple jobs be responsible for asbestos exposure?
Potentially, yes — depending on your work history, it’s entirely possible that you were exposed to asbestos in multiple roles or at various work sites.
If you’ve been diagnosed with an asbestos-related disease like mesothelioma, we can help you determine all of the companies that may have been responsible for exposing you to asbestos on the job. Get in touch with us today to learn more.
Can you sue a bankrupt asbestos-related company?
If an asbestos-related company has declared bankruptcy, you are no longer able to sue them for asbestos exposure. However, you may be able to pursue compensation from their asbestos bankruptcy trust fund, which could allow you to start seeing results sooner than if your case had gone to court. Contact Sokolove Law today to learn more about your potential legal options.
What are the pros and cons of filing an asbestos trust fund claim versus a lawsuit?
When you work with Sokolove Law, you don’t have to worry about whether you should file an asbestos trust fund claim or a lawsuit. We’ll pursue compensation from all of the avenues available to you, which may be from a combination of both asbestos trust fund claims and lawsuits, depending on your exposure history. Learn more about how we may be able to help with your asbestos case today.
How are asbestos trust fund claim values calculated?
The amounts awarded from the mesothelioma trust funds are calculated based on the severity of the asbestos-related illness, how your claim is reviewed, the payment percentages set up by the trust, how much money remains in the fund, and other factors.
For instance, as part of the asbestos trust fund claims process, your lawyer will review your exposure information and recommend either an expedited review or individual review of the claim:
- Expedited Review: Most trusts have determined a payout for those that meet basic requirements for approval of a claim — this means every claimant approved with the same disease gets the same mesothelioma trust fund awards (money).
- Individual Review: If our lawyers determine that you may be awarded more money based on the unique facts of your claim, they may recommend that you pursue an individual review. In this case, the trustee may award a higher amount than offered through the expedited review. This process can take longer, and it’s possible the trustee may award less money than the expedited review.
After this, trust fund administrators will “liquidate” your claim according to payment percentages established by the trust and then provide you with compensation.
Why were asbestos bankruptcy trust funds created?
Beginning in the 1980s, an influx of asbestos lawsuits caused some manufacturers to go out of business and file for protection under Chapter 11 of the bankruptcy code. By declaring bankruptcy, these companies sought to avoid paying victims of asbestos exposure what they were owed.
Asbestos companies that wanted Chapter 11 bankruptcy protection were ordered by the courts to put money aside for those harmed by their products. This meant creating asbestos settlement trust funds so there’s enough money to provide for current and future claimants and their families.
If you or your loved one were exposed to asbestos and diagnosed with an asbestos-related disease like mesothelioma, you may be entitled to compensation through one of these trust funds. Contact Sokolove Law today to see if you qualify.