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Asbestos Trust Funds for Mesothelioma Claims

asbestos-claim-mesothelioma-trust-fund Mesothelioma victims and their families deserve compensation from asbestos companies that filed for bankruptcy.

Fortunately, many negligent asbestos companies established trust funds while going bankrupt to pay out current and future claims.

Did your doctor diagnose you with mesothelioma likely due to exposure to asbestos? Are you seeking financial compensation through an asbestos trust fund?

At Rosenfeld Injury Lawyers, LLC, our personal injury attorneys are legal advocates for individuals who developed mesothelioma, asbestosis, lung cancer, or other diseases due to exposure to asbestos.

Call our asbestos lawyers at (888) 424-5757 (toll-free phone number) or use the contact form today to schedule a free consultation. All confidential or sensitive information you share with our legal team remains private through an attorney-client relationship.

What Is Mesothelioma?

According to the CDC (Centers for Disease Control and Prevention), mesothelioma is a rare cancer that affects the thin cells lining the chest, abdomen, and lungs.

Mesothelioma develops from exposure to asbestos – a mineral fiber found in different products used by various industries, including:

  • Power plants,
  • Shipyards,
  • Construction sites
  • Factories
  • Mills
  • Oil refineries
  • Automotive facilities
  • Chemical plants
  • Fire departments, and
  • Military ships

Diagnosing Mesothelioma

The best diagnostic tools can accurately identify mesothelioma, asbestosis, or other asbestos-related diseases. Unfortunately, however, the diagnosis is often confirmed in late life, decades after the victim has been exposed to asbestos products and materials.

A doctor could diagnose four main types of mesothelioma, including pleural, peritoneal, pericardial, and testicular cancers.

  • Pleural mesothelioma is the most common form affecting the lining of the lungs or chest cavity
  • Peritoneal mesothelioma impacts the intestines or stomach lining
  • Pericardial mesothelioma affects the lining of the heart and
  • Testicular mesothelioma affects men

Doctors also use other diagnostic tools to identify an asbestos-related disease leading to mesothelioma, including:

  • Biopsy
  • CT Scan (computed tomography)
  • MRI (magnetic resonance imaging)
  • PET (positron emission tomography) scan
  • X-ray

If you or a family member was diagnosed with mesothelioma, contact our legal team today for a free consultation. In addition, you might be entitled to receive compensation through the medical trust fund of an asbestos company responsible for your condition.

The Mesothelioma Victims' Trust Funds Established by Asbestos Companies

Due to government pressure, asbestos companies have established funds to compensate current and future mesothelioma victims.

In addition, many of the trusts filed for bankruptcy in recent years, leaving a significant amount of money available to be distributed among thousands of individuals diagnosed with mesothelioma.

If you are diagnosed with mesothelioma, seek compensation through the trust fund of an asbestos company responsible for your illness.

Unlike personal injury lawsuits, victims filing claims against these medical trusts do not need to prove negligence or monetary responsibility by an asbestos company.

There are four major medical funds available to victims of mesothelioma, including:

  • Asbestos Claims Facility (ACF),
  • The Manville Personal Injury Settlement Trust (MPIST),
  • National Union Fire Insurance Company of Pittsburgh v. Garlock Sealing Technologies, LLC (NUFIP) trust, and
  • The W.R. Grace & Company Asbestos Personal Injury Settlement Trust (W.R. Grace)

The ACF is a trust set up by Johns-Manville, however W.R. Grace and other companies such as Cement Div., Incorporated established the MPIST to compensate victims of asbestos exposure or mesothelioma diagnosed after 1988.

NUFIP operates similarly to the MPIST, providing mesothelioma trust funds for victims of asbestos exposure diagnosed between 1952 and 1986. These asbestos trust funds aim to compensate future and current victims of mesothelioma, as well as their families.

In the past, asbestos companies established most medical funds with a deadline for applying for compensation from the trust. In recent years, however, most trusts have been re-opened due to government pressure – allowing people diagnosed with mesothelioma to seek compensation even if their diagnosis occurred years ago.

Asbestos Trust Fund Payouts

Usually, the process for determining who gets a payout is initiated by an administrator liquidating a claim. The administrator working for the asbestos trust fund will contact victims seeking compensation through the medical trust.

Administrators typically determine which people diagnosed with mesothelioma or other asbestos-related diseases are eligible for compensation based on legal filings exposing their connection to asbestos materials, products, or companies that have gone bankrupt.

Virtually any direct exposure to an asbestos product or company throughout employment qualifies someone for compensation. This exposure can result from personal use, such as smoking cigarettes with asbestos filters or washing clothes contaminated with asbestos fibers.

Employees carrying out tasks that expose them to multiple sources of asbestos exposure may also qualify for an asbestos trust fund settlement administered by asbestos companies responsible for their medical condition.

The following companies may provide further information about asbestos trust funds that help compensate victims of mesothelioma.

  • Asbestos Claims Facility (ACF) : 1-866-714-4265 / www.acfresources.com
  • Manville Personal Injury Settlement Trust (MPIST): 1-800-698-3054 / www.mpistrust.com
  • National Union Fire Insurance Company of Pittsburgh v. Garlock Sealing Technologies, LLC (NUFIP): 1-877-648-3114
  • R. Grace & Company Asbestos Personal Injury Settlement Trust (W.R. Grace): 1-800-638-3927 / www.graceasbestosclaims.

If you are diagnosed with mesothelioma, seek compensation through the trust fund of an asbestos company responsible for your illness.

The money available in these corporate trusts can help cover medical expenses or provide additional financial security for victims and their families facing the many hardships associated with mesothelioma.

Chapter 11: Bankruptcy Code

The federal government provides legal remedies for asbestos companies filing for bankruptcy under Chapter 11. The bankruptcy code allows asbestos companies to restructure their debt while proceeding with ongoing lawsuits against them.

Chapter 7: Liquidation Trust Funds

After an asbestos company files for bankruptcy under Chapter 7, its assets are liquidated and used to repay creditors. As a result, people filing claims against these trusts typically receive little or no compensation because most available funds go towards repaying investors and debt holders.

In 1972, the federal government passed the Clean Air Act to regulate emissions from factories and other sources of air pollution. In 1976, Congress amended the law to include strict guidelines for managing asbestos-containing products as hazardous material subject to inspection and disposal protocols.

After these regulations took effect, demand for raw asbestos plummeted alongside production. This combination of factors led to the bankruptcy filings for several asbestos companies.

Most asbestos trust funds now available were not created for people diagnosed with mesothelioma or other related diseases. Still, former employees are filing wrongful death claims against companies that have gone out of business.

How Mesothelioma Trust Funds Are Litigated

Trust funds will hire a trusted mesothelioma attorney to represent their interests in court. Because of that, you will need an experienced law firm on your side to ensure fair compensation for injuries related to asbestos exposure or other occupational hazards.

During litigation, both parties will present their cases to a judge and jury in the hopes of winning. The verdict, in this case, is final and cannot be appealed or changed by either party.

Loss of Consortium Claims in Asbestos Trust Funds

A consortium claim, also known as an alienation of affection lawsuit, allows family members to receive financial compensation from the guilty company.

Unlike a mesothelioma lawsuit, this type of claim does not require a cancer diagnosis or other illness. Instead, you'll need to show that the disease damaged your loved one's relationship.

In addition to the loss of consortium compensation, surviving family members can seek other damages, including:

  • Special damages, which cover medical costs and loss of financial support
  • General damages, which include pain and suffering both during the diagnosis and after death
  • The court awards punitive damages if gross negligence is found on the part of a company

Furthering Asbestos Claim Transparency (FACT) Act

Under federal law, the Furthering Asbestos Claim Transparency (FACT) Act was enacted to govern trust funds. However, some injured victims and their legal representatives have criticized the Act while drawing support from defendants and their attorneys.

Injured parties often realize that the FACT Act does not provide necessary protection because it does not guarantee confidentiality in the case of bankruptcy. It imposes additional burdens on victims who have been exposed to asbestos.

Additionally, the law forces every asbestos attorney to reveal each claimant's name, address, telephone number, and the amount of compensation sought.

This Act is an attempt by defendants to reduce their potential liabilities. However, it does not protect all parties involved in the litigation process. Victims who file claims now have less privacy than before with this law in effect.

Some Benefits of Filing a Trust Fund Claim

Filing an asbestos trust fund claim provides victims with four distinct benefits. They are as follows:

  • Victims are eligible for compensation without having to present verifiable evidence of exposure
  • Because of that, victims have less work involved during the litigation process since there is no need to prove exposure
  • It is easier for victims of mesothelioma to receive compensation, even if they were exposed to asbestos years ago
  • Victims do not have to wait until defendants are found guilty or settle their claims

To learn more about filing an asbestos trust fund claim, do not hesitate to get in touch with our law office toll-free at (888) 424-5757 or through the contact form on this site.

What Is a Special Master in Asbestos Trust Funds?

Special masters are court officers who manage multi-district litigation cases. They work with the parties involved to agree on reallocating settlement funds, finding therapeutic split-off programs, and making other arrangements.

The Special Master acts as a liaison between the parties involved in the case. The court appoints the special master to help settle disputes and develop an equitable solution that benefits all parties.

Effect of FACT Act on Mesothelioma Trust Funds

Before the passage of the FACT Act, trust funds were allowed to negotiate confidentially with defendants without exposing claimants or their attorneys to federal lawsuits. Unfortunately, this ability has been stripped away by the law.

  • The Act places trust funds in a precarious position, forcing claimants to agree to appear quarterly and file extensive reports every 90 days.
  • The rule makes it difficult for trust funds to function effectively since they must focus on compliance rather than generating claims.

The FACT Act is considered controversial not only because it strips away the confidentiality of asbestos trusts but because it forces attorneys to expose their clients' names, addresses, and other personal information.

Additionally, the Act opens trust funds to federal lawsuits even if claimants are not involved in any wrongdoing.

How The FACT Act Help Trust Funds Operate More Effectively

When trust funds follow strict guidelines set out by the FACT Act, they can help asbestos victims receive compensation more quickly.

The Act includes the following provisions:

  • Trust funds must make quarterly reports detailing how many claims they have reviewed and whether they approve or deny them
  • Trust funds are required to disclose report responses to defendants
  • Trust funds must answer questions posed by defendants and other parties about their claims
  • Trust funds must maintain all files regarding claimants' exposure for at least ten years or until the statute of limitations expires, whichever is longer
  • Trust funds may not enter into confidentiality agreements with any defendant without prior approval from the court

To find out more about how the FACT Act can help, please contact our law firm today.

What Is a Plaintiff Attorney Responsible for When Filing an Asbestos Trust Fund Claim?

Attorneys are responsible for filing their clients' claims according to the guidelines set out by the administrator in charge of each trust fund.

Generally, claimants must provide their attorney with the following:

  • Claimant's diagnosis
  • Detailed information about their exposure to asbestos and when it occurred
  • Medical records and any other documentation that verifies the claimant's diagnosis
  • After filing a claim, claimants are responsible for notifying their attorneys of any changes to their information, such as their current address or phone number.

Too Sick to File a Claim?

Many people are diagnosed with mesothelioma every year, and most are too sick to fight for compensation from negligent companies. Asbestos bankruptcy trusts can set aside money for future claims, but they only pay out if enough money is in the trust fund.

Most funds have already run dry because of large settlements paid out in recent years. As a result, there aren't enough resources available to help everyone who deserves it right now.

However, this problem might change over time as more bankrupt companies establish new trust funds and more money becomes available for victims' families to claim compensation benefits through these trusts.

The problem is that many of these trusts are not protected from creditors or lawsuits. Instead, it's a legal loophole that allows attorneys to take money away from mesothelioma victims who deserve compensation for injuries caused by asbestos exposure.

Trust fund protection laws must change so companies cannot take money away from those who deserve it most.

Doctors diagnose victims needing compensation for their mesothelioma, asbestosis, lung cancer, colon cancer, and other cancers due to asbestos exposure. Our legal team has fought for mesothelioma trust fund changes for years after learning about the problems mesothelioma patients experience.

Personal Injury Settlement Trust

Under federal law, a Personal Injury Settlement Trust is a legal agreement set up when someone receives compensation for pain and suffering or lost wages. Still, they cannot immediately collect the money themselves.

Personal Injury Trust Protecting Settlements

The trust helps claimants oversee their financial future by protecting their settlements from creditors and judgments. Under current law, assets in these trusts are protected even if victims file for bankruptcy after receiving their settlement.

However, lawyers are taking advantage of the trust to immediately take settlements away from claimants because they can access settlement money if it is set up as a Personal Injury Trust. One reason attorneys do this is that they often want to reduce the length of their cases to earn more money for themselves.

Benefits of Trust Funds

Most people in legal battles for compensation are demanding trust funds be set up to protect their money from creditors, judgment creditors, and attorneys.

This solution will help them continue receiving financial support when they need it most while fighting mesothelioma claims and resolving asbestos trust fund settlements.

The financial assistance from trust fund money can benefit those fighting mesothelioma and asbestos-related diseases in many ways:

  • Limit the number of cases: Attorneys will be more likely to offer out-of-court settlements when claimants have a Personal Injury Settlement Trust instead of filing lawsuits.
  • Protect assets: If an attorney has access to settlement money while the claim is still open, they can take it away from clients and use it for other purposes such as paying themselves or their other clients.
  • Less time in court: Filing a Personal Injury Settlement Trust makes the case significantly shorter, saving claimants time and money.
  • End creditor problems: Having creditors after settlement money causes problems for many claimants when they need financial support the most. A Personal Injury Settlement Trust could end creditor issues if set up properly by an experienced attorney. Learn more about protecting your settlement funds with a Personal Injury Settlement Trust.
  • Receive more money: Having creditors after deals reduce the overall compensation future asbestos victims receive, which means more money for medical bills, lost wages, pain and suffering, or rehabilitation expenses.
  • Protect future earnings: The cost of mesothelioma treatment is extremely expensive, which means people living with asbestos-related cancer need every cent they earn to pay bills. Having creditors after settlement money could also affect future earnings if claimants are unable to continue working.

Trust funds protect your right to financial support while fighting for your legal claim against negligent companies that exposed you or a loved one to dangerous asbestos materials on the job. These workers include carpenters, repair workers, construction workers, oil workers, electricians, and others exposed to asbestos on the job.

If you need advice about setting up a Personal Injury Settlement Trust for your claim for compensation against negligent companies, contact us today. You can also learn more about the benefits of trusts and the problems asbestos exposure victims face by reading our free guide.

Asbestos Trust Funds FAQs

Our experienced mesothelioma law firm understands many families have unanswered questions about dealing directly with insurance companies and multiple asbestos trust funds for compensation after losing a loved one. A mesothelioma injury attorney has answered some of those questions below.

Contact an experienced mesothelioma attorney at (888) 424-5757 (toll-free phone number) or use the contact form today for additional information.

Can I File a Claim With a Trust Asbestos Fund?

If you have been diagnosed with mesothelioma, you may qualify for a financial settlement from an asbestos trust fund. These funds are usually established by companies that have declared bankruptcy after being sued for injuries caused by exposure to asbestos.

The amount available from the trust or asbestos litigation depends on how much money is left over after all expenses have been paid. Typically, mesothelioma lawsuits are based on asbestos bankruptcy trust funds and the injured party's health risks.

Does the Trust Fund Cover Medical Expenses?

No, trust funds provide compensation for pain and suffering caused by exposure to asbestos. This money is not intended to cover medical costs associated with mesothelioma or your current bills.

Injured parties can file an asbestos trust fund lawsuit or mesothelioma trust fund claim after receiving a diagnosis for an asbestos-related illness. Typically, an asbestos trust claim can be resolved promptly, especially if the injured party has a poor prognosis based on professional medical advice.

Will I Have to Pay Taxes on Money Received From a Trust Fund?

You will need to pay taxes on any money received from an asbestos trust fund because trust funds are considered taxable income by the Internal Revenue Service (IRS).

For specific information on how asbestos trust fund claims could be a deduction, please consult your tax advisor or call our law firm and speak with our mesothelioma lawyers for additional information.

If I Am Rejected From a Bankruptcy Trust Fund, Can I Be Considered for a Regular Asbestos Lawsuit?

You may have the option of filing a traditional asbestos lawsuit against a company responsible for your illness. In addition, if mesothelioma patients file a claim against a company that did not declare bankruptcy, they will be eligible to receive compensation from any available insurance coverage.

A mesothelioma lawyer specializing in asbestos lawsuits can ensure that victims receive maximum compensation through an asbestos personal injury trust. The asbestos trust fund compensation usually provides sufficient monetary recovery for victims who have received a mesothelioma diagnosis.

What Are Some Common Reasons Why I Might Be Rejected From a Trust Fund?

A trust fund administrator will usually reject asbestos trust fund claims for the following reasons:

  • You filed too late to qualify for compensation; or
  • You were aware of possible asbestos exposure and did not file an injury claim before the statute of limitations ran out

What Are Some Tips for Filing an Asbestos Trust Fund Claim?

Once future claimants have filed a claim against asbestos bankruptcy trusts, there are steps they can take to increase their chances of success. Here are some tips for filing an asbestos settlement trust claim:

  • Be thorough when listing all possible exposure sites
  • Include copies of any relevant medical documents and records
  • Include any documents you think might support your claim

To learn more about filing an asbestos trust fund claim, do not hesitate to get in touch with our law office toll-free at (888) 424-5757 or through the contact form on this site.

Ready to File an Asbestos Trust Fund Claim? Hire Personal Injury Attorneys Specializing in Asbestos Exposure Cases

At Rosenfeld Injury Lawyers, LLC, our mesothelioma injury attorneys have represented many injured victims harmed through exposure to asbestos. In addition, we serve as legal advocates to ensure they receive adequate mesothelioma trust fund compensation.

Contact an experienced mesothelioma lawyer at (888) 424-5757 (toll-free phone number) or use the contact form today to schedule a free consultation.

We accept every asbestos trust fund claim and wrongful death lawsuit on a contingency fee basis. This promise ensures you pay nothing until your case is resolved successfully.

Mesothelioma Trust Funds Resources:

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