Our goal is serve as a guide to our visitors, be they injured parties or loved ones, on the essential matters that need to be addressed when making a claim against one or more of the the mesothelioma trust funds. In addition to the information contained within this site we encourage our visitors to request further information on the trust funds and the disease of mesothelioma by requesting our free mesothelioma packet. For those visitors that have unique situations that are not fully addressed by this site and our written material, we urge you to contact our highly experienced mesothelioma Patient Advocates for cutting edge advice on the status of the fight against mesothelioma and how best to make claims against the trust funds.
Asbestos Trust Funds
When a person has been injured by the improper conduct of another person or business entity the both federal and state laws of the United States confer upon the injured party (and often other parties who are dependent upon them) certain rights to recover damages for those injuries. On occasion the damage done by a company can be so widespread that the claims exceed the defendants ability to adequately pay for all the damages it has caused forcing the company to file for bankruptcy protection in an effort to deal fairly and effectively with all the claims while having the opportunity to continue it's business.
Beginning in the late 1980's and continuing even now there have been almost 100 companies that have gone through some sort of bankruptcy in an effort to survive. A great majority of these companies have been forced to establish asbestos trusts as a condition of their bankruptcy reorganization. To date over $30 Billion has been set aside in various trusts of which nearly $18 Billion has been paid out to millions of claimants. As more companies reach their breaking point over their asbestos liabilities, additional billions are expected to be set aside for those injured by the asbestos.
Settlements and Claim Process
Filing claim against an asbestos trust fund has both similarities and dissimilarities to filing a lawsuit in the courts. For example they are similar in that in either procedure the claimant or their representative must demonstrate one or more of the following:
- Medical support demonstrating the claimant has an asbestos related disease, including reports documenting the same.
- Documentation that sets forth the impact that the asbestos exposure had on the claimant's disease.
- Reports and other documentation from the treating physician regarding both the diagnosis and prognosis for the condition.
- Documentation that connects the claimants exposure to the company which has established the trust upon which the claim is being made.
The major dissimilarity between lawsuit claims and trust claims is the fact that in a trust claim the process is far less confrontational. One of the reasons for this is the fact that once the at-fault company establishes the trust fund they are essentially removed from the process. The trust funds are managed by trustees who are charged with the responsibility to insure that the trust fairly protects both current and future claimants. Significantly less money is used on administrative expenses and attorney fees, allowing more of the funds to reach those in need.
Essentially, the trusts are set up with guidelines that set forth how settlements are calculated, often using categories and disease progression information to identify what each particular claimant is entitled to receive. Unlike litigation, there is simply not a lot of room for discussion or disagreement.
Get the Compensation You Deserve
When a party can demonstrate that their asbestos injuries may have been caused by one or more business entities it is possible to make claims against both the trust fund set up by one or more of the at-fault companies and to file suit against one or more at-fault companies that have not filed for bankruptcy reorganization. When confronted with the opportunity to seek a recovery from more than one entity it is critically important to have expert guidance, preferably from a law firm with a long history of involvement in asbestos litigation.
The need for experienced counsel is important because they not only know where to look for the compensation you or your loved one deserves they understand the the interrelationship between various claims and how they effect each other. Often times an election to settle against a particular fund or company can result in set-offs in potential claims against other entities.
Given the fact that all states and federal jurisdictions have statutes limiting the amount of time in which to make claims every person that has been exposed to asbestos should seek both medical and legal help at the earliest possible time in order to avoid being shut out from the a recovery for asbestos injuries. Please feel fee to contact our Patient Advocates with any questions you may have. Their time is free as is the consultation that they will be happy to set up for you with one of the most prestigious, nationally recognized asbestos law firms in the country. Find out what you deserve then make a decision as to how you should move forward to protect your family's future.