Asbestos Trust Funds
Established by companies facing bankruptcy, asbestos trust funds aim to compensate those harmed by asbestos exposure. If asbestos has impacted your health or that of a loved one, let Bergman Oslund Udo Little’s dedicated attorneys guide you toward potential trust fund compensation. With a legacy dating back to 1995, our Washington and Oregon teams specialize in asbestos exposure and mesothelioma claims.
Brendan Little, Partner, Bergman Oslund Udo Little Last Updated: November 14, 2024
What Is an Asbestos Trust Fund?
When asbestos and mesothelioma lawsuit filings rose sharply in the 80s and 90s, many asbestos manufacturers filed for bankruptcy to avoid paying victims. The courts required these companies to set aside money in asbestos trusts for current and future victims of the company’s products. Compared to traditional lawsuits, asbestos trust funds can provide a more streamlined and predictable way to obtain compensation for asbestos-related injuries.
What Trust Funds Are There in Oregon and Washington?
As of 2023, over $30 billion has been set aside in asbestos trust funds to help asbestos-exposure victims and their families. Companies with asbestos trust funds include but are not limited to the following:
- Western Asbestos Company: Western Asbestos had connections in the Pacific Northwest and established a trust after facing numerous asbestos-related lawsuits.
- W.R. Grace & Co.: While W.R. Grace is a national company, its operations in Libby, Montana, had a significant impact on the Pacific Northwest, particularly due to the vermiculite mine, which was contaminated with asbestos. The W.R. Grace Trust is one of the more well-known trusts related to asbestos exposure.
- Kaiser Aluminum: with operations in the Pacific Northwest, Kaiser Aluminum established a trust to deal with asbestos-related claims.
- Owens Corning/Fibreboard: This company had several operations in the Pacific Northwest and has an established trust to deal with asbestos claims.
- J.T. Thorpe: While J.T. Thorpe primarily operated in California, they had connections in the broader Pacific Northwest region and established an asbestos trust.
- Armstrong World Industries: Armstrong, a nationwide company, had ties in the Pacific Northwest and has set up an asbestos trust.
- E.J. Bartells: With ties in the Pacific Northwest, this company faced numerous asbestos-related lawsuits and has a trust in place.
- Bondex: Bondex International Inc. has established an asbestos trust fund following its asbestos-related liabilities.
- DII Industries: DII Industries, LLC Asbestos PI Trust was established due to the company's asbestos-related legal claims.
- Federal-Mogul Corp: The Federal-Mogul Asbestos Personal Injury Trust was created after the company filed for bankruptcy due to asbestos-related liabilities.
- Flexitallic: Flexitallic has an established asbestos trust known as the FMI T&N Asbestos Trust.
- Johns-Manville Corporation: One of the most well-known asbestos manufacturers, Johns-Manville was one of the first to establish an asbestos trust called the Manville Personal Injury Settlement Trust.
- Pittsburgh Corning Corp.: The Pittsburgh Corning Asbestos Personal Injury Settlement Trust was set up due to the company's asbestos liabilities.
- Turner & Newell: This company is associated with Federal-Mogul holdings and is covered by the Federal-Mogul Asbestos Personal Injury Trust.
- United States Gypsum (USG): The USG Asbestos Personal Injury Settlement Trust was established following USG's asbestos-related legal claims.
Navigating the complexities of asbestos trust funds can be daunting. Each trust has its unique filing criteria, deadlines, and compensation structures. Don’t miss out on what you’re entitled to. Contact our expert asbestos attorneys at our mesothelioma law firm if you or a loved one are considering filing a claim. We’re here to guide you every step of the way, ensuring every detail is addressed for a successful claim.
How Do Asbestos Trust Funds Work?
If you or a loved one are eligible to file an asbestos claim, you can submit a claim to an asbestos trust fund created by the company responsible for your asbestos exposure. If you can show that they were exposed to the company’s product or if you worked at an approved jobsite where the product has been shown to be used and developed an illness from that exposure, the trust fund will provide financial compensation. You can then use the funds to pay medical, out-of-pocket, and other fees.
If more than one company exposed you to asbestos, file claims against every company responsible for your exposure. You can also file an asbestos lawsuit against asbestos companies that have not yet declared bankruptcy. Talk to an experienced mesothelioma attorney in Washington or Oregon to learn more about your options.
Eligibility for Asbestos Trust Funds
You may be eligible to file an asbestos trust fund claim if you or a loved one was:
- Diagnosed with an asbestos illness such as mesothelioma or asbestos-related lung cancer
- Exposed to an asbestos-containing product from a company with an asbestos trust
You may still be eligible to file an asbestos trust fund claim even if your loved one has already passed away from their asbestos illness. A trusted mesothelioma lawyer in Oregon or Washington can help explore your options.
What Asbestos Illnesses Can You File an Asbestos Trust Fund Claim For?
Most people file asbestos trust fund claims for mesothelioma and asbestos lung cancer, but those are not the only illnesses you can claim. Here is a list of the asbestos-related illnesses for which you can file an asbestos trust fund claim:
- Mesothelioma
- Asbestos lung cancer
- Asbestosis
How Does Filing a Claim With an Asbestos Trust Fund Work?
If you believe you can file an asbestos trust fund claim, take the following steps to access compensation:
- Contact Bergman Oslund Udo Little: Contact our seasoned attorneys first. We’ll assess your eligibility for an asbestos trust fund claim or suggest alternative compensation avenues like Veterans Affairs benefits or lawsuits.
- Collect Evidence: With our guidance, amass vital evidence such as job records indicating asbestos exposure, witness testimonies, product details, and medical reports confirming your asbestos illness.
- Submit Your Claim: Asbestos trust funds have distinct filing deadlines. Our team ensures timely claim submissions, adhering to each trust’s requirements.
- Await Compensation: After your claim’s review, you’ll receive your payout from the trust fund. Though compensation times vary, most claims get settled within months. Note that due to the bankruptcy status of these firms, trust fund payouts might be lesser than potential lawsuit awards.
Our Lawyers Can Help You Access Asbestos Trust Funds
Don’t miss your opportunity for justice. With over 25 years of relentless advocacy in Washington and Oregon, our asbestos attorneys have secured over $1 billion for asbestos victims in the Pacific Northwest. We’re not just lawyers but educators, advocates, and fierce negotiators. Let our expertise and passion work for you, crafting tailored strategies that make corporations pay. Contact us as soon as possible for a free consultation. Your fight is our fight.
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