Asbestos Trust Funds
The first asbestos trust fund was established in 1988 by Johns Manville.
Asbestos trust funds have been created by companies which are currently under bankruptcy protection in order to provide victims of exposure with financial compensation for their injuries. There are 60 asbestos trust funds in the U.S. at the moment. Over $18 billion has been awarded thus far, while $37 billion is available for future claimants.
An experienced attorney specialized in asbestos litigation cases can help you tremendously through the process of filing a claim and can also negotiate with the trust funds to obtain the maximum compensation for you.
A formal diagnosis supporting the causal relation between your disease and occupational exposure to asbestos is crucial for your claim to be deemed valid following submission.
You will be required to provide your lawyer with documents which clearly state that you were an employee of the company in question, what your job entailed, as well as the period of time you had worked there.
It may take from several months to over one year to be awarded the financial compensation you are entitled to and thus, patience is essential. However, a lawyer with significant experience in asbestos cases may be able to speed up the process considerably.