What is a mesothelioma trust fund?

A mesothelioma trust fund are monies negligent companies were court-order to set aside after facing insolvency due to an overwhelming number of lawsuits filed by injured workers.

How do trust funds help mesothelioma victims?

Mesothelioma trust fund claims provide asbestos victims a means to access compensation sooner and with fewer uncertainties when compared to filing a lawsuit.

What are the eligibility requirements for filing a mesothelioma trust fund claim?

The following criteria must be met for claimants to be eligible to receive trust fund proceeds: Exposure to asbestos fibers through the fault of the company for whom the trust was set up, including second-hand exposure experienced by family members when workers carried asbestos fibers home on their clothing A confirmed medical diagnosis of an asbestos-related illness

What documentation do you need to file a mesothelioma trust fund claim?

You will need to provide the following: Personal identification Employment records Medical records that verify your condition Each trust has slightly different documentation requirements. Our asbestos lawyers can gather the required documentation on your behalf and ensure it meets the trust’s criteria.

Can I file more than one trust fund claim?

Asbestos exposure victims are eligible to file claims against the trust funds of all the companies that exposed them to asbestos. Claimants who have multiple trust claims will be required to disclose this information to each trust, and compensation could be reduced, or set back. This ensures each trust pays only for each company’s percentage of fault for each claim.

Can I file a trust claim and a lawsuit?

Companies that set up asbestos trust funds do so under the Chapter 11 bankruptcy code, which protects them from asbestos-related lawsuits. No one can file an asbestos-related lawsuit against these companies. The only means to receive compensation from these companies is through trust fund claims. However, trust fund claimants are not barred from filing lawsuits against companies that do not have Chapter 11 bankruptcy protection.

Can family members file trust fund claims?

Immediate family members are entitled to file wrongful death trust fund claims after the death of the victim in the event the victim had not already filed a claim. Family members can continue claims filed by a victim who passed away before the process was finished. Additionally, families of claimants who receive monthly payouts from trust funds can continue receiving trust fund payments beyond the death of the claimant.

Asbestos Trust Funds and Payouts List

Q: How much can I expect to receive from an asbestos trust fund payout?

Compensation is determined by the severity of the illness, age at diagnosis, and expected lifespan.

Q: Are proceeds from a mesothelioma trust fund taxable?

Proceeds from a mesothelioma trust fund are generally not taxable. Under Chapter 26 U.S. Code § 104, compensatory proceeds from personal injury claims are not taxable. Punitive damages are taxable, but these are not common in mesothelioma trust fund claims.

Q: How long do I have to file an asbestos trust fund claim?

Unlike tort claims that are governed by state law, the statute of limitations for trust fund claims is determined by each individual trust. The time limit is generally two or three years after the mesothelioma diagnosis.

Approximately $30 billion is available in asbestos trust funds to compensate patients with mesothelioma and other asbestos-related illnesses. Asbestos trust funds were established by asbestos product manufacturers that went bankrupt in response to the large number of mesothelioma lawsuits against them. Asbestos trust funds provide a faster means of recovering compensation without having to file a lawsuit.

Home » National Mesothelioma Law Firm » Meso Trust Funds

Legally Reviewed By: Maura Kolb
Managing Attorney | Asbestos Trust Funds & Resolution

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Key Facts About Asbestos Trust Funds

What is an asbestos trust fund?

Am I eligible to file an asbestos trust fund claim?

List of Asbestos Trust Funds

How to File an Asbestos Trust Fund Claim

How much can I expect to receive from an asbestos trust fund payout?

Trust Payouts and Other Options for Compensation

Are proceeds from a mesothelioma trust fund taxable?

How long do I have to file an asbestos trust fund claim?

Can family members file mesothelioma trust fund claims?

Do I need a mesothelioma lawyer to help me file a trust fund claim?

Can you pursue compensation for other asbestos-related diseases like asbestosis?

Does asbestos trust fund compensation affect VA benefits?

Why should I choose The Lanier Law Firm to handle my asbestos trust fund claim?

Play Video about Maura Kolb - Asbestos & Mesothelioma Trust Funds

Asbestos Resolution: Read the Transcript

Maura Kolb (00:00):
My name is Maura Kolb. I am a managing attorney here at The Lanier Law Firm. In particular, I manage the Asbestos Resolution Group.

(00:07):
In terms of my world and what my team and I do, our clients are victims of companies that went into bankruptcy because of their liabilities and are now being compensated pennies on the dollar. There are dozens of companies that over the years have gone out of business because of the many claims against them. Their companies made products that were dangerous, they put those products out on the market. Our clients and so many other thousands of men and women across the country were exposed to dangerous products for decades. A lot of the companies out there that today manufacture asbestos products or did in the past, knew that their products contained asbestos and that asbestos was very dangerous, that it could cause lung diseases, including asbestosis, lung cancer, other forms of cancer, and probably most seriously mesothelioma. It’s a horrible disease. It’s one that could have been prevented likely without the use of those products on the market, or making sure that people that used the products used proper respirators.

(01:30):
Where I’m sitting, companies should pay for the liabilities that they create. Anytime a client used an asbestos product in their home and dust was created, then they were exposed to asbestos in their home. For most trusts, we only have to prove they were exposed to the dust from an asbestos product, and unfortunately, we can’t give anybody their health back. So what we try to do is get compensation.

Asbestos trust funds were established to ensure asbestos exposure victims could receive financial compensation even if the companies that exposed them to asbestos had gone bankrupt.

Each company set aside millions of dollars in anticipation of a large number of future victims coming forward. As of September of 2023, approximately $30 billion remains in the trust funds.

Mesothelioma victims are not always eligible for asbestos trust fund proceeds, nor are trust funds the only method by which victims can receive compensation. The Lanier Law Firm is a nationwide law firm with extensive experience in asbestos litigation. We help our clients identify all responsible companies and obtain maximum compensation for mesothelioma through every means available.

Key Facts About Asbestos Trust Funds

Asbestos trust funds are money that has been set aside by bankrupt companies to compensate victims of asbestos exposure who have developed mesothelioma, lung cancer, or asbestosis. This money was set aside because the bankrupt companies cannot be sued.

More than 60 asbestos product manufacturers have declared bankruptcy and established mesothelioma trust funds.
To qualify for compensation from the asbestos trust fund, you must be able to prove that you were exposed to asbestos through one or more of the companies that established a trust fund and that you subsequently developed a qualifying asbestos-related illness.
Compensation available through the asbestos trust funds includes medical expenses, lost wages, and pain and suffering. Family members of asbestos exposure victims who have passed away can also receive compensation from the asbestos trust funds.
To obtain compensation through the trust funds for mesothelioma, you must file a claim with each fund that owes you compensation. This is faster and less complicated than filing a lawsuit.
It is possible to file a claim against multiple trust funds, and there is no limit to the number of trust fund claims you can file.
There are time limits to file a mesothelioma trust fund claim. These time limits are set by each individual fund. In most cases, the time limit is the same as the statute of limitations for filing a mesothelioma lawsuit in the state where you file your trust fund claim.
Asbestos product manufacturers that have not declared bankruptcy have not established asbestos trust funds. However, you can file a lawsuit against these companies.
It is important to contact an experienced mesothelioma lawyer to assist with your asbestos trust fund claim. Our nationally recognized mesothelioma attorneys can identify all of the trust funds that owe you compensation and ensure you receive the amount you deserve.

What is an Asbestos Trust Fund?

Asbestos trust funds are money that was set aside for asbestos exposure victims after the responsible companies declared bankruptcy. Asbestos product manufacturers that filed for bankruptcy were required to establish these funds under Chapter 11 U.S. Code § 524 in exchange for receiving bankruptcy protection.

Companies that file for bankruptcy are immune to lawsuits for liabilities they incurred before bankruptcy. Without the asbestos trust funds, mesothelioma victims would have been deprived of much-needed compensation for medical treatment, financial security, and justice.

Am I Eligible to File an Asbestos Trust Fund Claim?

You may be able to recover compensation from an asbestos trust fund claim if you meet all of the following criteria:

You were exposed to asbestos through a product that was manufactured or sold by the company that established a trust fund, whether you were exposed at work or through second-hand asbestos exposure, which occurs when a worker carries asbestos fibers home on work clothing.
You have received a confirmed medical diagnosis of mesothelioma, asbestosis, or asbestos-related lung cancer.
It has been at least ten years since your initial exposure to asbestos

You may be eligible to file a claim against multiple asbestos trust funds. If you have been diagnosed with an asbestos-related illness, you are entitled to file a claim against each trust fund that was established by a company that exposed you to asbestos. There is no limit on the number of trust fund claims you can file, as long as you can prove that each company played a role in exposing you to asbestos.

List of Asbestos Trust Funds

The mesothelioma trust funds that have been established are listed in the table below, as compiled by Maura Kolb, Managing Attorney of Asbestos Resolution at our law firm.

Company	Trust Fund	Started
ABB Lummus Global Inc.	ABB Lummus Global Inc. 524(g) ASB PI Trust	2006
A-Best Products Company	A-Best Asbestos Settlement Trust
ACandS	ACandS Asbestos Settlement Trust	2008
AP Green	APG Asbestos Trust	2014
API, Inc.	API, Inc. Asbestos Settlement Trust 2005	2005
Armstrong World Industries	Armstrong World Industries Asbestos Personal Injury Settlement Trust	2007
ARTRA Group and Synkoloid	ARTRA 524(g) Asbestos Trust	2007
ASARCO	ASARCO Asbestos Personal Injury Settlement Trust	2009
The Babcock & Wilcox Company	Babcock & Wilcox Asbestos Personal Injury Settlement Trust	2006
Brauer Supply Company	Brauer 524(g) Asbestos Trust	2012
Burns & Roe	Burns & Roe Asbestos Personal Injury Settlement Trust	2010
C.E. Thurston & Sons, Inc.	C.E. Thurston & Sons Asbestos Trust	2006
Celotex Corporation, Carey Canada Incorporated	Celotex Asbestos Settlement Trust	1998
Christy Refractories Company, LLC	Christy Refractories Asbestos Personal Injury Trust	2010
Combustion Engineering, Inc.	Combustion Engineering 524(g) Asbestos PI Trust	2005
Congoleum Corporation, et al	Congoleum Plan Trust	2010
DII Industries, LLC, Dresser Industries, Inc., Halliburton Company	DII Industries, LLC Asbestos PI Trust – Halliburton Subfund	2005
Harbison-Walker Refractories Company	DII Industries, LLC Asbestos PI Trust – Harbison Walker Subfund	2005
Durabla Manufacturing Company, Durabla Canada Ltd.	Durabla Manufacturing Company and Durabla Canada LTD. Asbestos Trust	2011
Eagle-Picher Industries, Inc.	Eagle-Picher Industries, Inc. Personal Injury Settlement Trust	1996
Federal-Mogul, Ferodo America Inc.	Federal-Mogul Asbestos Personal Injury Trust – Ferodo Subfund	2010
Gasket Holdings, Inc. (Flexitallic)	Federal-Mogul Asbestos Personal Injury Trust – Flexitallic Subfund	2010
Felt Products Manufacturing Company	Federal-Mogul Asbestos Personal Injury Trust – FMP Subfund	2010
Turner & Newell	Federal-Mogul Asbestos Personal Injury Trust – T&N Subfund	2010
The Flintoke Company, Flintkote Mines, Limited	Flintkote Asbestos Personal Injury Trust	2015
Fuller Austin Company	Fuller- Asbestos Settlement Trust	1998
Garlock Sealing Technologies, LLC, OldCo, LLC	Garlock Settlement Facility (GST)
Geo V. Hamilton, Inc.	GEO V. Hamilton, Inc Asbestos Trust	2019
G-I Holdings, Inc.	G-I Holdings, Inc. Asbestos Settlement Trust	2009
H.K. Porter, Inc.	H.K. Porter Asbestos Trust	2008
Hercules Chemical Company, Inc.	Hercules Chemical Company, Inc. Asbestos Settlement Trust	2011
J.T. Thorpe, Inc.	J.T. Thorpe Company Successor Trust
J.T. Thorpe, Inc.	J.T. Thorpe Settlement Trust	2006
The Kaiser Aluminum & Chemical Corporation	Kaiser Asbestos Personal Injury Trust	2006
Kaiser Gypsum Company, Inc., Hanson Permanente Cement, Inc.	Kaiser Gypsum Asbestos Personal Injury Trust	2021
Keene Corporation	Keene Creditors Trust	1996
Leslie Controls, Inc.	Leslie Controls Asbestos Personal Injury Trust	2012
Johns Manville Corporation	Manville Personal Injury Settlement Trust	1988
Maremont Corporation	Maremont Asbestos Personal Injury Trust	2019
Kentile Floors	Metex Asbestos PI Trust	2015
General Motors, Inc.