• What Kind of Money do Asbestos Victims Receive and Will Asbestos Trusts Run Out of Money?

    What Kind of Money do Asbestos Victims Receive?

    The money a victim or their family receives from an asbestos trust will generally depend on the type of injury as well as the schedule of claim payments which is established as procedures of the asbestos trust. Each of the mesothelioma and asbestos bankruptcy trust handles its specific payment schedule which assigns priority financial values according to the various severities of injuries and diseases caused by asbestos exposure. The types of asbestos diseases along with the severity levels at higher levels are eligible for higher levels of compensation. The claim financial values are set according to compensation schedule payments which were made prior to the companyís bankruptcy reorganization.

    Because most asbestos trusts donít have money adequate to fully compensate the claims that come in currently combined with future amounts, the trusts typically offer the victims of mesothelioma compensation as a percentage of the amount due to them. For example, the 26 trusts at the top of the list offer victims between 1.1 and a full 100% of the asbestos claim amount. By 2010, median percentages offered to claimants was around 25% of a mesothelioma claim. With the percentage being 25%, the actual dollar amount paid out to the standard mesothelioma victim claim amounts to $41 thousand.

    Will Mesothelioma Trusts Be Able to Pay All Future Asbestos Claims?

    Because asbestos diseases have what is called a long latency time, new asbestos claims are not expected to decrease for several decades yet. A latency period is the time between when asbestos exposure occurs and when the actual disease manifests itself. By 2011, the major asbestos bankruptcy trusts had funds totaling nearly $37 billion. As no surprise, many have concerns regarding the ability of asbestos funds in bankruptcy trusts to adequately cover future asbestos claims.

    If you or a loved one has been medically diagnosed with some kind of asbestos-related disease or illness, you should consult with a law office that specializes in mesothelioma claims immediately regarding your treatment and financial claim options for compensation by bankruptcy trusts. No guarantees exist that youíll receive any specific financial amount for your claim, but a mesothelioma lawyer will help you understand the claim procedures as well as the potential limitations regarding how much money youíll be able to recover for damages whether medically or for pain and suffering for your mesothelioma claim.

    Mesothelioma Legal Help For Your Asbestos Claim

    A mesothelioma lawsuit can offer appropriate remedies for many people to obtain greater financial compensation for your asbestos related disease. Yet there are also reasons which point toward filing a trust claim as opposed to a full-out lawsuit. Some of the reasons like time limits and various state statutes which offer simpler requirements for evidence which make trust claims the more favored option in these specific cases. Your individual circumstances both medically and otherwise determine what is most likely to be the most appropriate strategy in your situation. Your law firm can help you figure out the best options for you. But donít delay in talking directly with an attorney specializing in mesothelioma. If you wait, you could forfeit your options for financial awards based on statutory limitations or time limits on lawsuits.
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