What is a Mesothelioma Trust Fund?

Mesothelioma is a rare but aggressive cancer caused by exposure to asbestos. Its treatment is often extensive and expensive and may leave a patient unable to work. Many mesothelioma patients develop symptoms decades after exposure in the company responsible for the exposure. When one finds out they have mesothelioma, it is natural to feel worried if they are still eligible for compensation to cover their medical bills and other expenses. The good news is that one can still get compensated. This happens through mesothelioma trust funds, established to ensure victims and their families receive financial relief even if the responsible company no longer exists.

How Mesothelioma Trust Funds Work

A mesothelioma trust fund is a bank account containing money set aside by companies that used asbestos but declared bankruptcy due to overwhelming lawsuits. In return for remaining in business, a bankrupt asbestos company was ordered to set aside money to compensate mesothelioma victims. Rather than suing the company, eligible victims can file a claim directly with the trust.

Mesothelioma trust funds currently have over $30 billion available for compensation, and patients may file with multiple trust funds for higher compensation. Also, it is worth noting that trust funds are separate from lawsuits, so victims can pursue both options to seek the compensation they deserve.

Who is Eligible for a Mesothelioma Trust Fund Claim?

To be eligible for compensation from a mesothelioma trust fund, you must have been diagnosed with an asbestos-related disease, like mesothelioma, or are a family member of a deceased mesothelioma patient. You must provide evidence of a mesothelioma diagnosis and proof of exposure. Specifically, you need to provide:

• Medical records proving the diagnosis
• Employment or military service records linking your employment to asbestos exposure
• Proof of exposure to asbestos-containing products from a bankrupt company with a trust fund.

How Much Compensation Can You Receive?

Payouts from mesothelioma trust funds vary widely, so it is challenging to specify a number. The amount you can receive will depend on several factors, such as:

• The severity of the illness
• The number of trusts you qualify to seek compensation from
• The trust’s payment percentage, as each trust sets a percentage of the total claim it will pay

How to File a Mesothelioma Trust Fund Claim

Filing a mesothelioma trust fund claim involves several steps. To improve your chances of success, it is best to work with a seasoned mesothelioma attorney who can guide you throughout the process.

• Identify eligible trusts: The first step involves identifying the trusts from which you may qualify to seek compensation. A lawyer can assess your asbestos exposure history to determine which trusts apply.
• Gather evidence: Next, you must gather relevant evidence, such as medical records, work history, and witness testimonies.
• Submit the claim: Then, your attorney will file the claim with the trust, following its specific process.
• Claim review and decision: A trust fund trustee will review your case and determine the compensation to offer.
• Payment and negotiation: If the payout is too low, your attorney may negotiate for a higher amount to ensure you secure the financial relief you deserve.

Nationwide Mesothelioma Lawyers

If you or a loved one were diagnosed with mesothelioma, contact our office to speak to one of our experienced nationwide mesothelioma attorneys about your situation. Our office can help investigate your case and determine if compensation can be sought from negligent parties to help pay for your medical treatment.