Trust Funds

our loved one has just been diagnosed with mesothelioma. He spent his life dedicated to providing for his family, and what he got in return for doing that was a fatal disease caused by being exposed to asbestos in his work. As the primary source of income, he is now unable to hold a job and you don’t have the money to cover daily living expenses, nor the outrageous medical costs that cover the treatments he needs to fight this type of cancer. You and your family are devastated.

More than $30 billion has been set aside in a trust fund to help victims of mesothelioma, and you or your loved one may be able to receive some of this money! In fact, there is no limit to the amount of compensation you receive from one or more trusts. The money will never compensate for the loss you feel, but because supporting your loved one though this time may make it difficult for you to make ends meet, it can help cover the tremendous financial strain you’re feeling or will feel as the bills pile up. It may also help get the best medical attention he deserves.

Filing of a mesothelioma trust fund claim

There are five steps you need to take in submitting your claim:
    1. Select the trust(s) that is most appropriate, depending on your work history. You can submit to more than one debtor, allowing you to receive money from multiple trusts.
    2. Select the method of review. You may choose expedited, which is a set-value claim that is paid out quickly, or individual, which gives your submission unique consideration that could result in a higher payment.
    3. Your claim is reviewed by the trust.
    4. If your claim is valid, it is assigned a monetary value. This is known as liquidation and you’ll find out what the monetary value is, which you can choose to accept or reject. Rejected claims enter alternative dispute resolution. At this point, a lawsuit may be filed against the trust to reach a settlement.
    5. Your claim is paid out. You most likely will not receive the full amount your claim, but rather a percentage. This percentage may vary anywhere from 1% to 100%, with the average being 25%.

To date, there have been over 3 million claims and about $17.5billion has been paid out.

How mesothelioma trust funds came about

In the early 1970s, US courts began to see a rise in the number of asbestos-related cases. In order to make the process go faster, a number of companies have banded together to form organizations. Each company pays money into allocated trusts that are designed to pay victims of mesothelioma, asbestosis and other asbestos-related illnesses. Some companies have established trusts on their own, such as USG Corp., Johns Manville and Kaiser Aluminum.

Companies filing Chapter 11 Bankruptcy and being restructured have been ordered by the federal government to establish trusts for mesothelioma victims, while they still conduct business. More than 60 companies fall into this category and more are expected to follow suit in the future.

Today, there is more than $30 billion that sits in trust, and it is available to you if you’ve been diagnosed with mesothelioma or another asbestos-caused illness. The amount of money in these trusts is expected to rise over time, as more and more cases of confirmed asbestos-related mesothelioma come about.

Those who suffer from mesothelioma are aware of the huge medical expenses that come with such a burden. The mesothelioma trust fund is a proven way to compensate those diagnosed with this terrible illness.

Why you need an attorney

Filing a claim is a complex process that involves the cooperation of a qualified doctor, your loved one’s company and any other individuals who are knowledgable of your situation. It can take a long time to compile all the documents and evidence you require to submit a claim. An attorney can help by obtaining and organizing necessary documents and submitting your claim to the most suitable trust fund on the behalf of your loved one, making it an easier and faster process.

While the majority of mesothelioma cases are settled out of court, you may not be satisfied with the proposed amount offered by the trust. You have the choice to file a lawsuit against the trust, and this is something that requires an experience attorney who understands the concerns of your situation. We can make sure you get the best settlement. You may not even have to go to trial, as, most cases are never actually heard in court and end up being settled beforehand.

The important thing to remember, however, is that each state has it own deadlines on when you can file a mesothelioma lawsuit. That’s why it’s crucial that you submit your claim sooner than later.

The faster you contact us, the faster you may get the compensation you deserve! So far, approximately $21 billion has been paid out. You may be next in line.

I got my settlement letter on Wednesday. It’s a day I honestly never actually thought I would see. I wanted to sincerely thank you and your team for all of your hard work and time. I think it’s also important that you hear how much your work not only made a financial difference for my family to catch up from all of the medical expenses, but more importantly, that we don't have to worry about our financial future with my husband being gone. — Jen D.