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ASBESTOS BANKRUPTCY TRUSTS

Asbestos bankruptcy trust funds were established by companies that knowingly used asbestos in their products, even after becoming aware of its serious health risks. When the number of lawsuits from individuals suffering from diseases like mesothelioma grew, these companies filed for bankruptcy. As part of that process, they were required to create trust funds to compensate both current and future victims — including veterans who were exposed during their military service and later developed asbestos-related cancers.​

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While every case is different, compensation from asbestos trust funds typically ranges from $7,000 to over $1 million, depending on the trust and the specifics of the exposure. Many veterans receive total payouts between $300,000 and $400,000 across multiple trusts. The average payout from a single trust is about $180,000.

Today, these asbestos trust funds represent one of the most accessible paths to compensation for individuals with asbestos-related cancers. In fact:

  • More than $30 billion remains available in asbestos trust funds to compensate people affected by mesothelioma, asbestos-related lung cancer, and other qualifying conditions.

  • Claimants can file against multiple trusts, depending on where and how they were exposed to asbestos — which is especially common for veterans with a history of service-related exposure.

Trust Compensation Can Help Pay the Costs For:

Medical treatment and prescription costs

Home care or travel expenses for treatment

Future financial security for your loved ones

Lost wages or reduced earning capacity

Household expenses

Funeral costs

HOW WE CAN HELP

The trusts do not actively seek out victims or assist them with filing claims. That’s where asbestos attorneys can help. Our legal team has extensive experience with asbestos trust claims. We will: 

  1. Review your work history, military service, and medical records. 

  2. Identify which trusts you qualify for.

  3. File claims on your behalf.

  4. Maximize your recovery by filing with multiple trusts, if eligible.

“Many veterans qualify for compensation from more than one trust, but the system is complicated. We know how to tie exposure back to your time in service — even if it happened decades ago.” 

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- Scott Hames, Founder, Veterans Asbestos Alliance 

The Advantages of Asbestos Bankruptcy Trust Claims 

Often much faster and more efficient than traditional lawsuits.

Do not require going to court.

May allow you to file with multiple trusts to increase compensation as well as legal claims against companies that are still operating.

What Determines the Value of a Trust Fund Claim?

Each asbestos trust uses its own set of criteria, but several factors commonly influence how much a claimant may receive:

  • Payment percentages: Trusts do not pay the full value of claims. They pay a set percentage based on how much money is in the fund.

  • Diagnosis level: Mesothelioma receives the highest payouts. Other diseases, like asbestosis or non-mesothelioma cancers, receive less.

  • Company history and payment schedules: Some trusts base claim values on what that company historically paid before bankruptcy.

  • Proof of exposure: Strong evidence of when and where the exposure occurred — especially from military service — strengthens a claim.

  • Review options: Claimants can often choose between a fast, fixed payment or submitting additional evidence for a potentially higher award.

MAKE SURE TO ACT QUICKLY!   - THERE ARE DEADLINES

Each asbestos trust has its own filing deadline, or statute of limitations. In many cases, you must file within 1 to 6 years of diagnosis or death, so it’s important to act as soon as possible.

These deadlines can vary depending on the following:

  • The state you live in

  • The trust involved

  • Whether you are filing after a diagnosis or the passing of a loved one

FREE CLAIM EVALUATION

We offer free claim evaluations to determine if you or a loved one is eligible to receive compensation for an asbestos-related cancer. To get started, simply complete our simple Claim Evaluation Form or contact us to speak directly with one of our attorneys. ​

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