What Are Asbestos Trust Funds?
Asbestos trust funds are large amounts of money set aside by asbestos companies for eligible mesothelioma patients and their loved ones.
You could get hundreds of thousands of dollars or more by filing claims with multiple trusts — and without ever setting foot in court. Many of the people we’ve helped get their first asbestos claims payouts within 90 days.
Find out if you qualify for asbestos trust fund compensation right now.
Why Mesothelioma Trust Funds Were Created
The first asbestos trusts were set up in the 1980s by asbestos companies that declared bankruptcy after facing significant mesothelioma lawsuits. Many of these companies filed for Chapter 11 bankruptcy to stay in business but avoid being held accountable for their actions.
However, bankruptcy courts forced these companies to set up mesothelioma trust funds to pay current and future victims.
Asbestos trust funds contain over $30 billion for eligible mesothelioma patients and their families. By filing trust fund claims, you could receive compensation in as few as 90 days without going to court. Call us at (866) 608-8933 to see if you qualify. View Transcript.
Duration: 1 min 00 sec
Who Can Access Asbestos Trust Funds?
The billions of dollars sitting in these trust funds exist solely to help people harmed by asbestos. If this describes you or someone you love, you may be eligible for a payout.
You may be able to file claims with an asbestos trust fund if:
- You were diagnosed with mesothelioma, asbestos-related lung cancer, or other asbestos-related diseases.
OR - Someone in your family was diagnosed with or passed away from mesothelioma or another asbestos-related disease.
Even if you don’t know which manufacturers’ products you may have been exposed to, our team can determine which mesothelioma trust funds may owe you money.
Asbestos Trust Fund Payouts in 2024
Asbestos trust funds can pay out significant compensation to help you afford medical expenses and other costs that follow a mesothelioma diagnosis. Asbestos payout timelines may vary, but in many cases, trust fund claims will start awarding compensation within 90 days.
Mesothelioma victims may receive a total average payout of $300,000 to $400,000 from asbestos trust funds as of 2024.
You may also secure $1 million or more by filing asbestos lawsuits in addition to claims with mesothelioma trust funds.
Identify Asbestos Trusts- Submit Your Claims
- Accept Compensation
Identify Asbestos Trusts
Submit Your Claims
Accept CompensationStart the process now to access asbestos trust funds.
Factors Affecting Trust Fund Compensation
Each asbestos trust fund pays a different amount of money, so your total amount of compensation will depend on the trusts you qualify for.
Additionally, each trust operates under different payment percentages, which determine how much money a trust will pay out for each claim. Payment percentages allow trusts to pay only part of a claim’s full value to ensure they have enough money to pay future claimants.
Payment percentages can range from 1-100% of the claim’s full value. Your lawyer can help you determine the payment percentages for the trusts you’re filing a claim with.
The amount paid out also depends on which asbestos-related disease a claimant has. Because mesothelioma often requires more treatment than other conditions, mesothelioma patients will likely receive a higher payout than patients with asbestosis or lung cancer.
Asbestos Trust Fund List
More than 100 companies have established asbestos bankruptcy trusts since the late 1980s by filing for Chapter 11 bankruptcy protection. Over 60 of these trusts are still active as of May 2024.
If you or a loved one was diagnosed with mesothelioma, you may have been exposed to products made by one or more of the asbestos companies listed below — and may qualify for a payout.
Here is a list of asbestos trust funds:
- A-Best Products
- ABB Lummus Global
- AC&S
- A.P. Green
- API, Inc.
- Armstrong World Industries
- ARTRA Group, Inc.
- ASARCO, LLC
- Babcock & Wilcox Co.
- Bondex International/Special Products Holding Corp.
- Brauer Supply Co.
- Burns & Roe Construction Group
- Burns & Roe Enterprises, Inc.
- C.E. Thurston
- Celotex Corp.
- The Christy Refractories Co. LLC
- Combustion Engineering
- Congoleum Corp.
- DuroDyne National Corp.
- Eagle Picher Industries
- Fairbanks International Inc.
- Federal Mogul (T&N, Flexitallic, Ferodo)
- Flintkote Co./Flintkote Mines
- Fuller-Austin
- G-I Holdings, Inc.
- Garlock Sealing Technologies, LLC (Anchor Packing Company and Garrison)
- General Motors Corp.
- George V. Hamilton, Inc.
- G-I Holdings, Inc.
- Global Industrial Technologies (Harbison-Walker)
- Hercules Chemical Co.
- H.K. Porter Co.
- Johns Manville Corp.
- J.T. Thorpe Co.
- J.T. Thorpe Inc.
- Kaiser Aluminum
- Keene Corp.
- Kentile Floors
- Leslie Controls, Inc.
- Mallinckrodt
- Maremont Corporation
- Mid-Valley Inc. (Halliburton)
- National Gypsum
- North American Refractories Company (NARCO)
- Owens Corning Corp.
- Owens Corning Fibreboard
- Pittsburgh Corning
- Plant Insulation Co.
- Plibrico Co.
- Porter-Hayden Co.
- Quigley Co.
- Raymark Corp./Raytech Corp.
- SEPCO
- Shook and Fletcher
- State Insulations Corp.
- Swan Transportation Co.
- T.H. Agriculture and Nutrition, LLC
- Thorpe Insulation Co.
- United Gilsonite Laboratories
- United States Mineral Products
- USG Corp.
- Utex Industries
- W.R. Grace
- Western MacArthur/Western Asbestos
- Yarway Corporation
Not sure which trust funds you qualify for? Our team can help you determine whether you are owed money from any of these trusts and start filing claims. Contact us for help getting trust fund compensation.
Steps for Filing a Mesothelioma Trust Fund Claim
There is a specific process for filing claims with asbestos trust funds and getting financial compensation. Learn about each step in the process below.
1. Choose a Lawyer
The first step to filing asbestos trust fund claims is choosing the right mesothelioma lawyer to help you.
A lawyer can:
- See which asbestos trust funds you qualify for
- File claims on your behalf
- Quickly secure mesothelioma trust payouts for you
- See if you can get additional payouts from other sources
Our partner mesothelioma lawyers can walk you through the asbestos claims process and work to secure the most compensation possible. Get a free legal consultation to connect with top mesothelioma attorneys.
2. Collect Asbestos Exposure Evidence
Once you choose your mesothelioma lawyer, they will ask for information about your asbestos exposure and diagnosis. This helps them determine which asbestos bankruptcy trust funds you qualify for.
You may need to provide:
- Any information you’ve gathered about your asbestos exposure
- Medical records related to your diagnosis
- Military and/or civilian work history records
The attorneys at our partner law firm can find out how you were exposed to asbestos if you’re not sure.
The firm has warehouses worth of records related to the asbestos industry and worksites that used asbestos-based products, which they can use to determine the details of your exposure.
3. File Claims With Mesothelioma Trusts
Once your lawyer has all the needed information, they can file claims with asbestos trust funds you’re eligible for on your behalf.
You won’t have to file claims with asbestos trust funds yourself, meaning there’s no extra stress or hassle for your family.
Your lawyers may be able to file claims with multiple trusts at once, depending on which products you were exposed to. Many clients are eligible for payouts from many trusts.
“I don’t know how these people slept at night, knowing people were being exposed to asbestos, poisoning their bodies. They need to pay anyone who’s been affected by this.”
4. Have Your Claims Reviewed
Once your mesothelioma fund claims have been submitted, your lawyer can determine which review option is best for your case.
- Expedited review: This option allows the trust to review your claim using predetermined guidelines. If your asbestos trust fund claim meets all of these guidelines, you’ll get paid a set amount of money as outlined by the trust.
- Individual review: With this option, the trust will review your claim in more detail to determine how much compensation you should receive. This takes longer than the expedited review and could award you with more or less money.
5. Receive Payouts from Asbestos Trusts
Once your asbestos trust fund claim has been reviewed, it will be liquidated (paid). How much money you’ll get from liquidation depends on which asbestos disease you have, how much the trust pays, and other factors.
Your mesothelioma law firm will keep you notified as to how much your mesothelioma trust fund claim will pay and when you can expect to receive compensation. Many people start to receive the first payouts within 90 days.
Call (866) 608-8933 now to learn how much you could get from asbestos trusts and start the claims process.
Why You Need a Lawyer to File Asbestos Trust Fund Claims
A mesothelioma lawyer handles all of the work related to filing trust fund claims and getting compensation, making the process simple for you and your family.
It can be difficult to get money from mesothelioma trust funds without a lawyer’s help.
Lawyers can help you navigate:
- Eligibility: An experienced asbestos attorney can help you figure out which trust funds you are owed money from and help prepare all the documentation needed to ensure claims are filed correctly.
- Payment percentages: Your attorney can help you determine which trusts operate under payment percentages and how much they are, which can impact your final payout. Percentages may fluctuate over time based on how much money is in the trust at the time the claim is made.
- Trust fund deadlines: Each trust fund sets its own deadline to file a claim, usually 2-3 years after a mesothelioma diagnosis or the death of a loved one. Lawyers can make sure your trust fund claims are filed in time.
A good attorney will help you feel at ease by clearly explaining how they’ll secure asbestos trust fund compensation for you and answer any questions you have. Get connected with top lawyers now during a free legal consultation.
See if You’re Eligible for Asbestos Trust Compensation
You and your family deserve to get financial support to help you navigate your mesothelioma diagnosis. Negligent companies hid the risks of asbestos for decades, and thousands of people every year develop asbestos-related diseases as a result.
More than $30 billion is available in asbestos trust fund compensation today for victims of asbestos exposure. Trust fund claims allow you to access some of this money.
Mesothelioma Hope and our team of legal experts can:
- Determine your eligibility for trust fund payouts
- File asbestos trust fund claims on your behalf
- Help you understand all of your financial assistance options
See if you can file asbestos trust fund claims or call (866) 608-8933 now to speak to someone who can help.
Mesothelioma Trust Fund FAQs
What is the average payout for asbestos trust funds?
The average asbestos trust payout for mesothelioma is $300,000 to $400,000. This is typically how much a mesothelioma patient or their family members will get in total from all the trusts they qualify for.
Your potential payout will vary based on which trusts you can access, which asbestos-related illness you have, and other factors.
An asbestos attorney can help you find out how much money could be available in your case.
How much money is left in the mesothelioma trust fund?
More than $30 billion is still set aside in mesothelioma trust funds as of May 2024. Multiple trust funds exist because many companies tried to avoid responsibility for lawsuits once the dangers of asbestos became clear.
These asbestos companies filed for bankruptcy and were then forced to establish these funds to compensate people who were hurt by their products.
You and your family members can access some of this money if you’re eligible to file claims with asbestos trust funds. Contact us to get started.
How does the asbestos trust fund work?
A few decades ago, asbestos companies tried to file for bankruptcy to avoid lawsuits and accountability as the truth about their products came to light. The bankruptcy courts forced these companies to set up trust funds for victims of their products.
These trusts exist today and hold billions of dollars for people harmed by asbestos in the past, present, and future. Anyone who was diagnosed with an asbestos-related disease may be eligible to receive a payout from these trusts.
Asbestos trust fund claims can be filed without ever stepping foot in court, and many people start receiving compensation within 90 days.
How many asbestos trust funds are there?
As of May 2024, there are over 60 active asbestos trust funds.
You may qualify for compensation from multiple trusts, depending on which asbestos-containing products you were exposed to.
Are asbestos trusts taxable?
No, payouts from asbestos trust funds are generally not taxable, but a mesothelioma attorney can help determine if any taxes may apply in your case.
What percentage does the NARCO asbestos trust pay?
The North American Refractories Company (NARCO) has a posted payment percentage of 100%. This means claims will pay out the full amount of the claim’s value.
What percentage does Owens Corning asbestos trust pay?
At this time, the Owens Corning trust pays 7.8%, while the Owens Corning Fibreboard trust pays 6.7%.
Find out if you’re eligible to file claims with either trust — and see which payment percentage may apply to you — by working with our partner lawyers. Call (866) 608-8933 to get started.
How We Can Help
