Mesothelioma is a rare and aggressive cancer caused by exposure to asbestos. This devastating disease can take decades to appear after exposure, and often results in significant medical bills and lost income. Fortunately, there are mesothelioma trust funds available to compensate victims and families affected by asbestos exposure. In this guide, we will cover everything you need to know about mesothelioma trust payouts.
Overview of Mesothelioma Trust Funds
Mesothelioma trust funds were established to compensate victims of asbestos exposure who have developed mesothelioma or other asbestos-related diseases. These trusts were created as a result of the staggering number of mesothelioma lawsuits that bankrupted numerous asbestos manufacturers and distributors. Today, there are over 60 trusts with an estimated $30 billion available to compensate victims and their families.
Who Qualifies for Mesothelioma Trust Funds?
To qualify for mesothelioma trust payouts, an individual must have been diagnosed with mesothelioma or another asbestos-related disease. In addition, they must have evidence of exposure to asbestos from a company or product that is covered by the particular trust fund. The trust may require proof of employment, medical records, or other documentation to support the claim.
How Much Compensation Can You Receive from a Mesothelioma Trust Fund?
The amount of compensation available from a mesothelioma trust fund varies depending on the particular trust and the severity of the illness. In general, payouts range from a few thousand dollars to several million dollars. Larger payouts are typically awarded in cases of mesothelioma or other severe illnesses, while smaller payouts are given for less severe illnesses. The average payout from a mesothelioma trust fund is around $180,000.
How to File a Claim with a Mesothelioma Trust Fund
To file a claim with a mesothelioma trust fund, the first step is to gather all necessary documentation, such as medical records, employment history, and other evidence of exposure to asbestos. The next step is to locate the specific trust fund that may be responsible for compensating the victim or their family. Once the trust is located, the claimant must complete the necessary paperwork and submit it to the trust for review.
How Long Does it Take to Receive Payment from a Mesothelioma Trust Fund?
The time it takes to receive payment from a mesothelioma trust fund varies depending on the particular trust and the complexity of the claim. In general, it can take several months to a year or more to receive payment. The review process includes a thorough investigation of the claim and supporting documentation, and the trust may require additional information or documentation before making a decision.
List of Mesothelioma Trust Funds
There are over 60 mesothelioma trust funds available to compensate victims and their families. Some of the largest and most active trusts include:
| Name of Trust | Estimated Value | Payouts to Date |
|---|---|---|
| Johns-Manville | $2.5 billion | $4 billion |
| A.P. Green Industries | $443 million | $670 million |
| Babcock & Wilcox | $1.8 billion | $1.5 billion |
| Owens Corning/Fibreboard | $1.2 billion | $5.5 billion |
Process for Filing a Claim with a Specific Trust
Each mesothelioma trust has its own set of specific requirements and procedures for filing a claim. The following is a general overview of the process for filing a claim with a mesothelioma trust:
1. Verify that you are eligible to file a claim with the particular trust. Check the trust’s website or contact them directly for more information.
2. Gather all necessary documentation, including medical records, employment history, and evidence of exposure to asbestos.
3. Complete the trust’s claim form and include all supporting documentation.
4. Submit the claim form and supporting documentation to the trust.
5. The trust will review the claim and supporting documentation and may request additional information or documentation.
6. Once the review is complete, the trust will make a decision on the claim and notify the claimant of the amount of compensation awarded.
Frequently Asked Questions
What is mesothelioma?
Mesothelioma is a type of cancer that affects the lining of the lungs, abdomen, or heart. It is caused by exposure to asbestos and can take several decades to develop after exposure.
What is a mesothelioma trust fund?
A mesothelioma trust fund is a fund that was established to compensate victims of asbestos exposure who have developed mesothelioma or other asbestos-related diseases.
How much compensation can I receive from a mesothelioma trust fund?
The amount of compensation available from a mesothelioma trust fund varies depending on the particular trust and the severity of the illness. In general, payouts range from a few thousand dollars to several million dollars.
How do I file a claim with a mesothelioma trust fund?
To file a claim with a mesothelioma trust fund, the first step is to gather all necessary documentation, such as medical records, employment history, and other evidence of exposure to asbestos. The next step is to locate the specific trust fund that may be responsible for compensating the victim or their family. Once the trust is located, the claimant must complete the necessary paperwork and submit it to the trust for review.
How long does it take to receive payment from a mesothelioma trust fund?
The time it takes to receive payment from a mesothelioma trust fund varies depending on the particular trust and the complexity of the claim. In general, it can take several months to a year or more to receive payment.
Can I file a lawsuit and a claim with a mesothelioma trust fund?
Yes, it is possible to file a lawsuit and a claim with a mesothelioma trust fund. However, it is important to work with an experienced attorney who can advise on the best course of action for your individual case.