Asbestos Trust Funds

Asbestos trust funds are one way mesothelioma patients and their families can obtain compensation. Bankrupt asbestos companies were forced to set up these trust funds to pay those who developed mesothelioma from their products. Today, more than $30 billion is available in trust funds for mesothelioma victims. Learn if you qualify for trust fund compensation right now.

Legally Reviewed and Fact-Checked By: Melissa Crowe Schopfer

What Is an Asbestos Trust Fund?

An asbestos trust fund is a form of mesothelioma compensation that allows eligible victims and their loved ones to access money from bankrupt asbestos manufacturers.

Today, there’s more than $30 billion available in asbestos trust funds. You may be eligible to file claims with multiple trusts, and some people start to get compensation in 90 days or less.

A mesothelioma attorney reviews a case with his client.
With the help of a mesothelioma attorney, you may start receiving payouts from asbestos trust funds in 90 days or less.

Asbestos trust funds were set up in the 1980s after millions of workers and their families had been put in danger from asbestos-containing products. Many companies that knowingly exposed people to asbestos filed for Chapter 11 bankruptcy protection to avoid being sued.

However, these manufacturers were required to set aside large amounts of money in trust funds to compensate current and future victims of mesothelioma and other asbestos-related diseases.

Think you might have a claim?
See which companies have established asbestos trust funds.

Who Is Eligible to Access Asbestos Trust Funds?

Mesothelioma funds limit compensation to claimants who meet very specific criteria related to their health and the circumstances of their asbestos exposure.

You can file an asbestos trust fund claim if:

  • You were exposed to asbestos-based products
  • The company that set up the trust made the products you were exposed to
  • You developed mesothelioma or another asbestos-related disease from using the products

Your family members may also be able to file a claim on your behalf if you cannot do so.

After being diagnosed with mesothelioma, you should file your legal claim as soon as possible. There are statutes of limitations that set time limits on filing a claim after an asbestos-related death or diagnosis. Waiting too long to file a claim could affect whether you receive compensation.

A qualified mesothelioma lawyer can help you determine which trusts you qualify for and how long you have to file a claim. Your mesothelioma attorney can also help you gather the information you need to build a strong trust fund claim.

Were you or a loved one diagnosed with an asbestos-related illness? See if you qualify to access asbestos trust fund compensation right now.

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Trust Funds
  • $30+ billion available
  • File multiple claims
  • Get money in 90 days or less

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Asbestos Trust Fund Payouts

Each asbestos trust fund is managed by a group of trustees who determine how much the fund will pay out.

Some trust funds have created payment percentages to ensure they have money to pay future claimants.

Payment percentages can range from 1-100% of the claim’s full value and can fluctuate based on the number of people who file a claim.

For instance, in a trust where the full claim amount is $200,000:

  • 1% payment percentage = $2,000 payout
  • 50% payment percentage = $100,000 payout
  • 90% payment percentage = $180,000 payout

Because payout percentages can change over time, it is crucial to file a claim as soon as possible. Start the trust fund claims process now by learning if you qualify for asbestos trust fund compensation.

How Much Money Does a Trust Fund Pay Out?

Each trust fund is different, so the payout will vary based on which companies you file your claim against, the trust’s payment percentage, your diagnosis, and other factors.

Notable Asbestos Trust Fund Payouts

  • $1.1 million Insulation company trust fund
  • $345,000 Asbestos company trust fund
  • $280,000 Valve company trust fund
  • $63,000 Pipe company trust fund

See If You Qualify

Fact-Checked

All Simmons Hanly Conroy settlement amounts have been fact-checked and verified by our editorial team.

Mesothelioma patients usually secure $1 million or more through legal claims and asbestos trust fund payouts.

What Is the Average Payout from an Asbestos Trust Fund?

After payment percentages are applied, the average value of a single asbestos trust fund claim is around $41,000 per trust for victims of mesothelioma.

However, the number of trusts you qualify for, variations in payment percentages, and other factors can impact how much compensation you actually receive. Many mesothelioma victims file claims with multiple asbestos trust funds to obtain the maximum payout possible.

How Long Does It Take for a Trust Fund Payout?

The time frame to receive an asbestos trust fund payout varies from case to case. Many victims begin receiving trust fund payouts within 90 days of filing their claim.

If you and your legal team decide to have the trust complete an expedited review of your claim, you’ll get paid a fixed amount of money as determined by the trustees based on their established criteria for your diagnosis.

The other option is an individual review, where the trust fund takes a more detailed look at the unique facts of your claim. The trustees may award a higher amount than offered through the expedited review, but the process may take longer.

How to File an Asbestos Trust Fund Claim

There are several steps to follow in order to file trust fund claims and pursue financial compensation. An experienced mesothelioma lawyer can assist you with each step.

1. Confirm Your Diagnosis

No matter what trust funds you file claims with, an official mesothelioma diagnosis from your doctor is critical.

Your mesothelioma diagnosis must be confirmed through medical records, including imaging scans, biopsies, and bloodwork. Your doctor will need to describe how asbestos exposure contributed to your diagnosis and provide an in-depth overview of the extent of your illness.

A key part of filing your claim is choosing the right law firm and asbestos attorney to help you.

When choosing your mesothelioma lawyer, take advantage of free consultations. This allows you to research the firm’s track record and experience in asbestos litigation. It also allows you to clear up any questions you may have about the trust fund claims process.

Selecting a mesothelioma law firm is a personal choice, but we recommend choosing one that has helped many other patients get financial assistance.

3. Get a Free Case Review

A good attorney will help you feel at ease and confident in their abilities during your case review. They will answer any questions you have and address all of your concerns clearly and openly.

You’ll need to provide as much information as possible related to your work and medical history. Your age, diagnosis, military involvement (if any), and asbestos exposure history will affect how your case is processed.

Providing your lawyer with this information up front will give you the best chance of receiving an asbestos trust fund payout.

With access to a nationwide network of mesothelioma lawyers, we can connect you with a law office that can help explain your legal options. Get started with your free case review today.

4. File Your Trust Fund Claim

Once your lawyer has all the necessary information, they will file your mesothelioma claim.

Your lawyer can provide you with a general estimate, but the exact timeline will depend on the number of claims being processed and the details of your case.

5. Receive Compensation from Asbestos Trust Funds

The amount of money you receive will depend on the type of illness you have and what your attorney can negotiate. Asbestos trusts will liquidate (pay) all claims they determine to be valid.

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Asbestos Trust Fund List

Today, more than 100 companies have established their own asbestos bankruptcy trusts. If you or a loved one were diagnosed with mesothelioma and worked for at least one of these companies, you may be able to file a claim.

Find companies with asbestos trust funds.
  • Armstrong World Industries
  • ASARCO LLC
  • Babcock & Wilcox Company
  • Celotex
  • Combustion Engineering
  • Congoleum Corporation
  • DII Industries, LLC
  • Eagle-Picher Industries
  • Federal Mogul U.S. T&N Subfund
  • Federal Mogul U.S., FMP Subfund
  • Kaiser Aluminum
  • Johns-Manville
  • National Gypsum Company (NGC)
  • Owens Corning
  • Owens Corning, Fibreboard Subfund
  • Pittsburgh Corning Corporation
  • Porter Hayden Company
  • Quigley Co. Inc.
  • Raytech Corporation
  • United States Gypsum
  • Western Asbestos
  • W.R. Grace
  • Other
Armstrong World Industries

Initial Funding $2.06 billion

Established in 2006

ASARCO LLC

Initial Funding $830 million

Established in 2009

Babcock & Wilcox Company

Initial Funding $1.84 billion

Established in 2006

Celotex

Initial Funding $1.25 billion

Established in 1997

Combustion Engineering

Initial Funding $1.24 billion

Established in 2006

Congoleum Corporation

Initial Funding $270 million

Established in 2010

DII Industries, LLC

Initial Funding $2.51 billion

Established in 2005

Eagle-Picher Industries

Initial Funding $730 million

Established in 1996

Federal Mogul U.S. T&N Subfund

Initial Funding $635 million

Established in 2007

Federal Mogul U.S., FMP Subfund

Initial Funding $55 million

Established in 2007

Kaiser Aluminum

Initial Funding $1.22 billion

Established in 2006

Johns-Manville

Initial Funding $2.5 billion

Established in 1988

National Gypsum Company (NGC)

Initial Funding $446 million

Established in 1993

Owens Corning

Initial Funding $3.42 billion

Established in 2006

Owens Corning, Fibreboard Subfund

Initial Funding $1.56 billion

Established in 2006

Pittsburgh Corning Corporation

Initial Funding $825 million

Established in 2013

Porter Hayden Company

Initial Funding $40 million

Established in 2006

Quigley Co. Inc.

Initial Funding $569 million

Established in 2013

Raytech Corporation

Initial Funding $52 million

Established in 2000

United States Gypsum

Initial Funding $3.96 billion

Established in 2006

Western Asbestos

Initial Funding $2 billion

Established in 2004

W.R. Grace

Initial Funding $3 billion

Established in 2014

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Why You Need a Lawyer to File Asbestos Trust Fund Claims

The trust fund process can be complex, and there are several aspects to consider when filing your asbestos trust fund claim. A mesothelioma lawyer can help navigate any issues that may affect your ability to get financial compensation from a trust fund.

Factors that may affect asbestos trust fund claims include:

  • Compensation disclosure laws: These laws can force victims to disclose information about money from prior asbestos trust fund claims, which can affect compensation amounts.
  • Setoffs: These can reduce the amount of compensation a victim is awarded in a trial. For example, if a victim wins $500,000 in a verdict but won $100,000 in a trust fund claim, they may walk away with $400,000.
  • State laws: States can place limitations on claims depending on your diagnosis and whether you already filed a claim for a less severe asbestos disease such as asbestosis.
  • Statutes of limitations: Each trust fund sets its own deadline to file a claim, usually 2-3 years after a mesothelioma diagnosis or death.

To learn if you qualify for asbestos trust fund compensation, connect with our partner law firm Simmons Hanly Conroy.

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  • Get money quickly
  • $1+ million average claim
  • No out-of-pocket costs

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See If You Can Access Asbestos Trust Funds

Negligent manufacturers that hid the risks of asbestos from millions of people should be held responsible for their actions. While profiting off asbestos-based products, millions were exposed and at risk of developing asbestos-related diseases.

You and your family should not have to pay for their negligence. Thankfully, more than $30 billion is available in asbestos trust fund compensation today for families affected by mesothelioma.

Experienced mesothelioma lawyers can help you file your trust fund claim with ease and help you find additional compensation options.

The first step in securing compensation from a mesothelioma trust fund is to get a free case evaluation. Our team can help you find a trusted attorney to handle your claim(s).

Request a free consultation now to get started.

Asbestos Trust Fund FAQs

When was the first asbestos trust fund established?

The first asbestos trust fund was created in 1982 by Johns-Manville, a major manufacturer of asbestos-based products. Once it filed for Chapter 11 bankruptcy, the company became the first to establish a trust.

Many companies followed the same steps and created their own trust funds in order to avoid a multitude of lawsuits.

How much money is available in asbestos trust funds?

Today, there is more than $30 billion available in trust fund compensation. Anyone who has been diagnosed with an asbestos-related disease may be eligible to access money from these trust funds.

How much are mesothelioma trust fund settlements worth?

The average asbestos trust fund claim is worth about $41,000. That said, you may qualify for compensation from more than one trust.

Asbestos trust fund payments can also vary greatly depending on unique factors. Further, you may qualify for additional forms of compensation, such as a mesothelioma settlement or veterans benefits.

Do I qualify for asbestos compensation?

If you’ve been diagnosed with an asbestos-related disease, such as mesothelioma, lung cancer, or asbestosis, you may qualify for asbestos claim compensation.

Your lawyer must be able to prove you were exposed to the asbestos-based products made by the manufacturers named in the claim in order to get financial compensation.

Melissa Crowe Schopfer, Simmons Hanly Conroy AttorneyReviewed by:Melissa Crowe Schopfer

Shareholder, Simmons Hanly Conroy

  • Fact-Checked
  • Legal Editor

Melissa Crowe Schopfer is a shareholder at Simmons Hanly Conroy. Over the past 10 years, Melissa has worked on over 500 cases and recovered more than $100 million in settlements and trial verdicts on behalf of her clients. She has represented families impacted by mesothelioma and asbestos-related diseases in almost every state.

  • Asbestos Trial Team Leader
  • Practicing Attorney for 15+ Years
  • Has Recovered Over $100 Million

Mesothelioma Hope was founded by a team of passionate health advocates to educate people about this aggressive form of cancer. Mesothelioma affects thousands of people each year. Our team works tirelessly to give hope to those impacted by mesothelioma. Learn more about operating principles and our Editorial Guidelines.

4 References
  1. ASBESTOS INJURY COMPENSATION The Role and Administration of Asbestos Trusts . US Government Accountability Office. (n.d.). Retrieved February 17, 2022, from chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/viewer.html?pdfurl=https%3A%2F%2Fwww.gao.gov%2Fassets%2Fgao-11-819.pdf&clen=971241&chunk=true

  2. Dixon, L., & McGovern, G. (2011, August 18). Links between asbestos bankruptcy trusts, tort cases examined. RAND Corporation. Retrieved February 17, 2022, from https://www.rand.org/pubs/monographs/MG1104.html

  3. Dixon, L., McGovern, G., & Coombe, A. (2010). Asbestos Bankruptcy Trusts An Overview of Trust Structure and Activity with Detailed Reports on the Largest Trusts. Retrieved February 17, 2022, from https://www.rand.org/content/dam/rand/pubs/technical_reports/2010/RAND_TR872.pdf

  4. WP Company. (1990, November 20). A history of asbestos and the Manville Trust Fund. The Washington Post. Retrieved February 17, 2022, from https://www.washingtonpost.com/archive/business/1990/11/20/a-history-of-asbestos-and-the-manville-trust-fund/fb60ed34-2a94-4570-9648-9e2efb8167f0/

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