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Filing an Asbestos Trust Fund Claim

Posted by Michael Throneberry | Jun 05, 2023

Despite knowing the health effects of asbestos, many asbestos companies failed to warn workers and the public. This resulted in asbestos exposure. Asbestos exposure can lead to the development of fatal diseases such as mesothelioma. If someone develops mesothelioma or another asbestos-related illness because of a company's negligence, they or their family can file a claim against the company and recover compensation.

As asbestos lawsuit filings increased in the late 1900s, many asbestos companies declared bankruptcy to avoid paying for their wrongdoings. Fortunately, bankruptcy courts did not allow these companies to escape liability that easily. An asbestos company that decided to declare bankruptcy was required to establish a trust fund to protect future victims of the company's negligence. Below, we discuss who can file an asbestos trust fund claim and the process of filing an asbestos trust fund claim.

Who Can File an Asbestos Trust Fund Claim?

The following are the parties that are eligible to file an asbestos trust fund claim;

  • Victims of asbestos exposure who are later diagnosed with mesothelioma, asbestosis, or another asbestos-related illness.
  • Family members of a victim who has passed away from mesothelioma, asbestosis, or another asbestos-related illness.
  • Family members or the attorney of a victim who is too sick to file a claim.

To determine if you are eligible to file an asbestos trust fund claim, talk with an experienced lawyer. An attorney can not only help determine if you qualify to file a claim, but they can also help determine which active trust funds are linked to your or your loved one's asbestos exposure history.

Filing an Asbestos Trust Fund Claim

Typically, the process of filing an asbestos trust fund claim follows the following steps;

  • Contacting an asbestos attorney: A skilled asbestos attorney can handle every step of the legal process on your behalf. An attorney can determine which company or companies are responsible for your or your loved one's illness. A skilled lawyer can help determine if you are eligible to file a claim against one or multiple trust fund claims.
  • Gathering evidence: Before you can recover compensation, you need to gather evidence that can help you prove asbestos exposure. A skilled attorney can help you gather the necessary evidence.
  • Filing the claim for review: After hiring an attorney and gathering evidence, the next step is filing your claim for review. An attorney can help you file your claim.
  • Reviewing of the claim: After you file your claim, it will undergo review. The main methods of review for trust fund claims are expedited and individual review.
  • Claim liquidation: This stage involves assigning a monetary value to the claim. If a claim is expedited, it already has a monetary value scheduled by the trust. On the other hand, for an individual claim, the value of the claim is determined by the negotiation between the trust fund's trustee and the claimant's lawyer.
  • Claim payment: After a claim is approved and a value is assigned, the asbestos trust fund provides compensation.

Arizona Mesothelioma Lawyers

If you or a loved one were diagnosed with mesothelioma, contact our office to speak to one of our experienced Arizona 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.

About the Author

Michael Throneberry

Attorney Michael Throneberry graduated from Purdue University with a Civil Engineering degree. He then served with the United States Army...

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