How To Apply For Asbestos Trust Fund Compensation
If you or a member of your family has been affected by an asbestos-related illness, such as mesothelioma, asbestosis, or lung cancer, you may be entitled to compensation from asbestos trust funds.
Our experienced team of lawyers and advocates can help determine which trust funds you may qualify for.
Find Out If You QualifyIndividuals diagnosed with an asbestos-related disease may be eligible to file for multiple forms of compensation, including asbestos trust funds, legal claims, benefits from the U.S. Department of Veterans Affairs, and more.
Victims often qualify for more than one form, helping to maximize potential compensation.
Family members, loved ones, or secondary asbestos exposure victims may also qualify for compensation depending on the specific circumstances.
Enlisting the help of an attorney with experience in asbestos cases is the best way for eligible victims and families to pursue financial compensation.
Key Information
- Average Compensation: The average payout for one trust fund claim is $150,000 but can vary based on the funds’ specific payout percentages.
- Multiple Trust Funds: Many victims are eligible to file up to 20 trust fund claims (or more) depending on their asbestos exposure history.
- Family Members & Secondary Exposure: Family members and individuals with secondary exposure may be eligible for trust fund compensation depending on their exposure history.
- Applying for Compensation: Working with a legal expert can help make filing for asbestos compensation easy and stress-free, allowing victims and families to focus on what matters most — their health and well-being.
- Legal Support: Asbestos lawyers will try to maximize your potential payout by identifying all trust funds and other forms of compensation you may qualify for.
Qualifications for Asbestos Trust Fund Compensation
There are several qualifications you must meet to be awarded trust fund compensation.
The following questions can help you and your family determine your eligibility to file an asbestos compensation claim:
- Can you prove your direct asbestos exposure?
- Did you work in an occupation that is now known to put workers at a high risk of asbestos exposure?
- Did you handle products or work in an environment that regularly exposed you to asbestos?
- Did you work for an employer that has been held liable to compensate other victims of mesothelioma or other asbestos-related diseases?
- Are you a family member of an individual who was diagnosed with mesothelioma?
- Did you come into contact with someone who worked in an environment that contained high levels of asbestos, which may have resulted in secondhand exposure?
If you answered ‘yes’ to any of the above questions, consider filling out the form below to evaluate your potential eligibility for filing a claim with an asbestos trust fund.
Our team of asbestos compensation experts can assist you in identifying the necessary documentation to support your answers. Collaborating with an experienced legal team may help you navigate the claims process effectively.
Family Members & Victims of Secondary Exposure
If your loved one has passed away from an asbestos-related disease or if you are a victim of secondary asbestos exposure, you may be eligible to file an asbestos trust fund claim and/or pursue other forms of compensation.
When a loved one passes away from an asbestos-related illness, family members may be eligible to seek compensation through asbestos trust funds, wrongful death lawsuits, or other means to cover funeral, treatment, and related expenses.
Spouses, children, or estate representatives can file for compensation on behalf of the deceased.
Secondary exposure victims who have developed asbestos-related diseases may also be able to apply for asbestos compensation.
While proving secondary exposure can be challenging, legal assistance can help you gather crucial documentation, such as employment records and witness statements, to support your claim.
“Family members and secondary asbestos exposure victims may be eligible to file trust fund claims. Working with an experienced lawyer can help maximize potential compensation for eligible claimants”
– Daniel Wasserberg, Attorney
Steps to Applying for Asbestos Compensation
Several steps in the asbestos compensation application process are essential to prove your case.
These steps include:
- Gathering documentation
- Considering compensation factors
- Filing your claim
- Approving your claim
Working with a reputable asbestos lawyer can help make the filing process as easy as possible.
Asbestos law firms can assist you throughout the entire claims process, seeking the maximum possible compensation on your behalf while you focus on your health.
Step 1: Gathering Documentation
To earn asbestos trust fund compensation, you must first determine your eligibility and prove your asbestos exposure.
Once you receive an official diagnosis of a qualifying asbestos-related disease, you may need to gather information from family, friends, or former coworkers to prove your exposure.
Potential forms of evidence and documentation to help validate your asbestos exposure include:
- Old photos and yearbooks
- Past employment or financial documents
- Earnings details from the SSA and IRS
- Credit reports for employment history
- Information about other exposure sources, such as:
- Auto repair shops
- Laundromats
- Home laundry areas
Notes for Family Members of Mesothelioma Patients
If a mesothelioma patient passes away before the resolution of a compensation claim, then spouses, children, parents, and other financial dependents may be able to continue the process.
Several factors contribute to successful asbestos claims for family members:
- Proven Exposure
Family members must provide a link between asbestos and the patient’s disease. It may be difficult for loved ones to determine the dates and places associated with the exposure. Mesothelioma attorneys research the possible places of exposure and can help make connections to asbestos-containing products.
- Corporate Negligence
Many asbestos product manufacturers were aware of the dangers of asbestos but continued to make and sell contaminated goods, putting countless individuals at risk. Skilled asbestos attorneys help prove these companies’ negligence on behalf of eligible patients.
- Substantial Impact
Family members must show that the patient’s asbestos-related illness and subsequent death had a substantial impact on their finances and overall ability to live a stable and secure life.
Step 2: Considering Compensation Factors
Several factors may affect the processing of an asbestos trust fund claim. Lawyers help clients understand how trust procedures and state laws may impact their compensation options and claim outcomes.
Common factors to consider when applying for asbestos compensation include:
- Statute of limitations: Each asbestos trust fund has a filing deadline, typically 2 to 3 years from diagnosis or death due to mesothelioma or other asbestos-related diseases.
- Setoffs: If you qualify for multiple trust fund claims, each trust can deduct previous payments you’ve received before determining your new payout amount.
- Filing for other forms of compensation: Some claimants may be eligible to file both asbestos lawsuits and trust fund claims. Your trust fund claim may alter the compensation you receive from the lawsuit.
- State laws: Each state has its own laws governing trust fund payouts and how they may affect patients’ lawsuit compensation value.
Step 3: Filing Your Claim
Filing a Claim by Yourself
While asbestos claimants can file directly with trust funds, doing so carries risks. Errors or omissions during the filing process can significantly reduce or even eliminate the compensation you and your family may receive for asbestos-related injuries.
Consulting with an experienced legal team specializing in mesothelioma claims is recommended to improve your chances of fair compensation.
Benefits of Working With a Mesothelioma Lawyer
Hiring a lawyer specializing in asbestos litigation offers several advantages.
Mesothelioma lawyers understand the following:
- The entire claims process
- Know which products or job sites led to the patient’s asbestos exposure
- Access to documentation that shows the patient came in contact with the contaminated products or sites
- Able to identify witnesses to corroborate the patient’s exposure timeline and locations
For many claimants, trusting an experienced lawyer provides peace of mind during this complex, time-intensive process. Reviewing a lawyer’s track record of successful claims can offer insight into how they may be able to help with your case.
Step 4: When Your Claim Is Approved
Once a mesothelioma trust fund claim has been accepted, claimants generally receive compensation within three to six months. The amount you receive depends on the trusts for which you are eligible.
Most trust funds have outlined eight asbestos-related disease levels that can receive compensation. The disease scheduling method is intended to treat all claimants with similar disease levels equitably, as follows:
Disease Level | Description |
---|---|
Level VIII | Mesothelioma |
Level VII | Lung cancer with evidence of bilateral asbestos disease, such as asbestosis |
Level VI | Lung cancer with evidence of bilateral asbestos disease, such as asbestosis |
Level V | Other cancer with evidence of bilateral asbestos-related disease |
Level IV | Severe asbestosis |
Level III | Asbestosis/pleural lung disease with restricted pulmonary function |
Level II | Asbestosis/pleural lung disease with restricted pulmonary function |
Level I | Other asbestos diseases |
Each trust has an assigned scheduled value, or a standardized monetary amount, for compensation.
The scheduled values are usually set above the 50th percentile of the average historical settlements that the at-fault company paid to injured patients prior to declaring bankruptcy. Payments vary widely based on the size and scope of the trust.
Trusts generally pay a percentage, or a discounted value, of a claim based on individual claim circumstances. In most cases, the percentage amount is increased or decreased every three to five years.
Criteria Required to File an Asbestos Trust Fund Claim
Asbestos attorneys typically review three main criteria when assessing the eligibility of an asbestos trust fund claim, including:
- Proof of disease: Medical records showing mesothelioma, lung cancer, asbestosis, or other asbestos conditions as the primary disease
- Proof of exposure: A documented connection between the mesothelioma victim and the at-fault company’s product or workplace
- Statute of limitations: Claimants generally have two to three years after initial diagnosis to file their claim
These factors make it crucial for mesothelioma victims to gather the necessary information quickly. If you have any questions, one of our experienced team members is ready to assist you.
“We are proud to share that many of our clients have successfully received multiple forms of asbestos compensation. Reach out today to see if you may be eligible as well.”
– Daniel Wasserberg, Attorney
Additional Forms of Asbestos Exposure Compensation
In addition to asbestos trust funds, you may be eligible for other forms of compensation through lawsuits, VA benefits, and or other financial assistance programs.
Personal injury or wrongful death lawsuits can provide substantial compensation if a company is found liable for your asbestos exposure.
Veterans exposed to asbestos during military service may qualify for VA benefits, which include healthcare and monthly financial support. Additionally, financial assistance programs may help cover medical bills and related expenses.
Hiring an experienced asbestos lawyer can help you identify all potential sources of compensation beyond trust funds.
They will evaluate your situation to determine if you qualify for multiple types of claims and guide you through the filing process, helping you maximize the support available to you and your family.
Using an Expert Asbestos & Mesothelioma Lawyer
The asbestos trust fund claims process can be complex, time-consuming, and stressful. Making decisions in this situation is a significant step, so it’s essential to understand all your options.
Partnering with a trusted expert who understands your circumstances can help ease the burden and work to maximize your potential compensation.
Our national firm, featuring some of the top lawyers in the industry, is here to guide you through the asbestos compensation process. Our team of asbestos litigation attorneys has decades of experience helping eligible victims navigate the claims process effectively.
Asbestos exposure victims and their loved ones choose to work with our experienced team because we truly understand your situation and know how to help you pursue the compensation you’re owed.
Reach out today to start exploring your options.
Sources
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- Owen Corning Fibreboard Trust. Trust Distribution Procedures. Retrieved from http://www.ocfbasbestostrust.com/wp-content/uploads/2015/12/OC-FB.-Amended-TDP.12.2.2015-C0463534x9DB18.pdf
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- “Asbestos Exposure and Cancer Risk Fact Sheet.” National Cancer Institute, https://www.cancer.gov/about-cancer/causes-prevention/risk/substances/asbestos/asbestos-fact-sheet.
- “Are Asbestos Settlements Taxable?” Lexis Legal News, https://www.lexislegalnews.com/mealeys/articles/1703496.
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- Hardin, E., LaTourrette, T., & Martin, L. (2010). “Asbestos Bankruptcy Trusts: An Overview of Trust Structure and Activity with Detailed Reports on the Largest Trusts.” RAND Corporation, https://www.rand.org/pubs/technical_reports/TR872.html.
- “Statutes of Limitations: Is It Too Late to Sue?” Nolo, https://www.nolo.com/legal-encyclopedia/statutes-limitations-is-it-too-late-sue-faq.html.