Mesothelioma Trust Funds

Billions of dollars remain available through mesothelioma trust funds, created by bankruptcy courts to ensure financial compensation for current and future victims of asbestos-related diseases. These asbestos trust funds are a vital lifeline for people who can no longer sue the bankrupt companies responsible for their asbestos exposure.

At Rosenfeld Injury Lawyers, our experienced Chicago mesothelioma attorneys help patients and their families file asbestos trust fund claims and maximize recovery. We’ve guided countless Illinois clients through the complex process of identifying eligible trust funds, proving exposure, and securing payouts.

What Are Mesothelioma Trust Funds? Compensation from Bankrupt Asbestos Companies

Asbestos settlement trust funds are legal entities created by bankrupt companies that once manufactured or sold asbestos-containing products. When these companies filed for Chapter 11 bankruptcy protection, courts ordered them to establish asbestos bankruptcy trusts to handle ongoing legal liabilities.

Because these companies can no longer be sued directly in asbestos lawsuits, victims must instead file claims with the appropriate trust funds. Each asbestos personal injury trust is governed by specific rules about eligibility, documentation, and payment.

These trusts provide financial compensation to:

• Individuals diagnosed with mesothelioma, lung cancer, asbestosis, or other asbestos-related illnesses
• Family members pursuing claims after a loved one’s death
• Victims with documented asbestos exposure linked to the specific company that created the trust

Why Were Mesothelioma and Asbestos Settlement Trusts Created?

From the 1940s through the 1980s, asbestos exposure was widespread in shipyards, factories, construction sites, and military facilities. Millions of workers, including those in Illinois, unknowingly inhaled toxic fibers that would later cause mesothelioma and other asbestos-related diseases.

This led to a wave of asbestos litigation starting in the 1970s. Some of the largest asbestos companies, like Johns-Manville, declared bankruptcy under the pressure of mounting lawsuits.

As part of their reorganization under bankruptcy law, they were required to fund asbestos personal injury settlement trusts—a mechanism that ensures future victims still have a way to seek compensation even though the company responsible is no longer in business.

Securing Your Share of Mesothelioma and Asbestos Trust Fund Compensation

Today, it’s estimated that more than $30 billion remains in asbestos trust funds nationwide. This money is not part of a class action or public benefit—it’s specifically set aside for people harmed by asbestos exposure caused by these now-bankrupt companies.

Many mesothelioma victims are eligible to file claims with multiple mesothelioma trust funds, depending on their work history and exposure. A skilled mesothelioma lawyer can help identify which asbestos bankruptcy trusts apply to your case and ensure you receive the maximum possible compensation.

Who is Eligible to File Asbestos Fund Claims in Illinois?

To qualify for asbestos trust fund compensation, claimants must meet specific criteria based on their diagnosis, relationship to the victim (in wrongful death cases), and proof of exposure to a bankrupt company’s asbestos products. Here’s how eligibility generally breaks down:

Individuals Diagnosed with Asbestos-Related Illnesses

Anyone diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis may be eligible to file a claim. Common examples include:

• Tradespeople regularly exposed to asbestos on job sites
• Veterans exposed during active duty, especially in Navy or shipyard roles

Individuals exposed secondhand, such as family members who inhaled asbestos fibers brought home on contaminated work clothing

Family Members Filing After a Wrongful Death

If a loved one passed away from an asbestos-related disease, a surviving spouse, adult child, or estate representative can file a claim on their behalf. These are typically filed as part of a wrongful death claim and can still result in significant compensation if properly documented.

Exposure Must Be Linked to a Specific Trust

Each mesothelioma trust fund claim must include credible evidence that ties the illness to products, materials, or worksites associated with the specific bankrupt company that created the trust. Supporting documentation may include:

• Employment records showing where and when the exposure occurred
• Military service documents verifying asbestos-related job roles
• Witness statements from coworkers or family
• Asbestos exposure medical records confirming diagnosis
• Product identification, such as insulation, pipe coverings, gaskets, or brakes made by the company

Establishing this connection is critical to a successful claim—and it’s where an experienced mesothelioma lawyer plays a vital role.

Asbestos Trust Fund Claims vs. Lawsuits: Key Differences

When pursuing compensation, there are two primary legal avenues: filing trust fund claims and pursuing traditional lawsuits. While both can provide financial recovery, they differ significantly in process, requirements, and outcomes. 

Asbestos trust fund claims are filed through an administrative process, not through the courts. They’re made against bankrupt companies that can no longer be sued directly. Each asbestos trust has its own eligibility criteria, documentation standards, and payment percentage. Notable aspects include:

• The process is often faster than litigation.
• Payouts are based on a set schedule and review system.
• The compensation amount may be lower than a trial or negotiated lawsuit settlement.
• These claims do not involve court appearances, discovery, or depositions. 

Asbestos lawsuits are filed in court against solvent companies that are still liable for their role in a victim’s asbestos exposure. These cases often involve:

• Litigation steps like discovery, depositions, and sometimes trial.
• Potential for high-value settlements and verdicts, often exceeding $1 million.
• A longer timeline compared to trust fund claims.
• The ability to be pursued in addition to trust fund claims, increasing total compensation.

Many mesothelioma patients benefit from pursuing both legal paths simultaneously. A knowledgeable asbestos attorney can develop a strategy that leverages both systems for maximum recovery.

Can Family Members File Both Trust Claims and Lawsuits?

Yes. A skilled asbestos attorney will typically file mesothelioma fund claims while also pursuing lawsuits against solvent companies. This maximizes recovery.

Illinois law may require setoffs, meaning trust fund payouts can reduce the amount awarded in a mesothelioma lawsuit settlement or verdict. However, this does not block compensation—it simply prevents double recovery for the same harm.

Understanding Asbestos Trust Fund Payouts

Introduce factors affecting the amount received.

When filing asbestos trust fund claims, one of the most important questions is: How much compensation can I expect? The answer depends on several factors, including your diagnosis, exposure history, and how many asbestos trust funds you’re eligible to file against.

Below are the main components that affect your asbestos trust fund compensation.

What is the Average Payout for Asbestos Trust Funds?

State the commonly cited total average payout for asbestos trust claims (from multiple trusts combined) is around $300,000-$400,000. Emphasize this varies greatly. Contrast with average mesothelioma lawsuit settlements ($1M+).

The average payout for asbestos trust fund claims, when filed against multiple trusts, typically ranges between $300,000 and $400,000. This total reflects combined payments from several bankrupt companies’ trusts, and not a single source.

Payouts can vary significantly depending on individual case details. For comparison, mesothelioma lawsuit settlements often exceed $1 million, though they typically involve a longer legal process.

How Payment Percentages Affect Your Mesothelioma Settlement Payout

Explain payment percentages clearly: Trusts only pay a portion (e.g., 1% to 50%+) of a claim’s liquidated value to ensure funds remain for future claimants. State these percentages vary by trust and can change over time.

Each asbestos trust assigns a liquidated value to your claim based on the severity of your illness and level of documented exposure. However, you won’t receive that full value.

Instead, the trust applies a payment percentage—typically ranging from 1% to over 50%—to preserve funds for future victims. For example, if your claim is valued at $100,000 and the trust’s payment percentage is 25%, you’ll receive $25,000.

These percentages vary between trusts and can change over time based on the fund’s financial status and claims volume.

Factors Influencing Individual Trust Fund Compensation Amounts

Several factors affect how much a specific trust will pay for a claim:

• Diagnosis severity: Claims involving mesothelioma receive the highest base value, followed by lung cancer and asbestosis
• Strength of exposure evidence: Clear links to the specific asbestos company increase payout likelihood
• Claimant’s age: Younger victims may receive higher compensation due to projected loss of life expectancy and lost wages
• Payment percentage: Each trust applies its own percentage
• Number of trusts filed against: Filing against multiple mesothelioma trust funds increases total recovery

A skilled mesothelioma lawyer will help you gather strong documentation and build a strategy that aligns with each trust’s compensation guidelines.

Can You Get Multiple Trust Fund Payouts?

Yes. Most victims qualify for multiple asbestos trust fund payouts, often from companies they didn’t even know they were exposed to. We help clients identify every eligible trust to ensure they maximize their total mesothelioma compensation.

Maximizing Your Total Mesothelioma Compensation

To ensure full and fair compensation, it’s critical to pursue every available legal avenue. At Rosenfeld Injury Lawyers, we help clients recover from multiple sources—not just one.

This includes:

• Asbestos trust fund claims for exposure tied to bankrupt companies
• Mesothelioma lawsuits against still-solvent manufacturers and suppliers
• VA benefits for veterans exposed during military service

Our team coordinates these efforts strategically, making sure that no opportunity for financial recovery is missed. The result is a more complete, efficient, and effective path to seek compensation for both victims and their families.

Asbestos Trust Fund List: Companies with Established Trusts

These are just a few examples of companies that established asbestos settlement trusts:

• Johns-Manville
• Owens Corning / Fibreboard
• Armstrong World Industries
• W.R. Grace
• Pittsburgh Corning
• Babcock & Wilcox
• United States Gypsum (USG)

Note that this is not a complete list. Each individual’s exposure history must be matched to eligible trusts by a qualified asbestos lawyer.

Why You Need a Law Firm Experienced with Asbestos Trust Claims

Asbestos trust fund claims are legally and administratively complex. A general personal injury lawyer won’t have the tools or knowledge to handle these cases effectively.

You need a firm with:

• Access to proprietary databases of qualifying products, job sites, and exposure records
• Experience interpreting each trust’s unique filing requirements and deadlines
• Strategies for managing setoffs, maximizing payouts, and coordinating with lawsuits

At Rosenfeld Injury Lawyers, we’ve helped asbestosis victims throughout Illinois successfully navigate this process and recover the compensation they deserve.

Navigating Complex Trust Requirements and Procedures

Filing a mesothelioma trust fund claim isn’t just about filling out forms—it’s about meeting strict and often technical standards set by each individual asbestos settlement trust. Every trust has its own documentation rules, medical criteria, exposure requirements, and deadlines.

At Rosenfeld Injury Lawyers, our team navigates these complexities for you. We ensure that:

• All medical and exposure evidence meets each trust’s submission standards
• Deadlines and jurisdictional rules are fully followed
• Payment percentages, setoff impacts, and multiple filings are properly coordinated
• Any additional requests for clarification or supporting documentation are addressed promptly

By managing every stage of this process, we reduce the burden on victims and their families and increase the likelihood of timely, full trust fund payouts.

Our Legal Team’s Experience with Asbestos Litigation and Trusts

Our firm has handled asbestos litigation for decades, representing mesothelioma victims and their families in both mesothelioma lawsuits and asbestos trust fund claims. Based in Chicago, we’re deeply familiar with the state’s asbestos courts, including the Cook County Asbestos Docket, and we’ve secured millions in combined trust fund compensation and trial recoveries.

We use proprietary databases to link exposure histories to eligible asbestos bankruptcy trusts, gather credible evidence quickly, and apply deep knowledge of each trust’s internal standards to ensure claim success.

When you work with Rosenfeld Injury Lawyers, you’re not just hiring a law firm—you’re partnering with a team that knows how to build winning cases for current and future victims of asbestosis.

Filing Asbestos Claims After a Loved One’s Wrongful Death

Even after a loved one has passed away due to mesothelioma or another asbestos-related illness, their right to compensation does not disappear. Family members—usually through the estate’s legal representative—can still file asbestos trust fund claims and pursue additional legal actions.

These claims often provide compensation for:

• Medical costs incurred before death
• Loss of income and household support
• Funeral and burial expenses
• Emotional losses suffered by surviving spouses and children

At Rosenfeld Injury Lawyers, we help families manage the wrongful death claims process with compassion and efficiency, ensuring their legal rights are protected and that no available asbestos trust fund settlements go unclaimed.

Are Trust Fund Payouts Taxable Income?

In most cases, asbestos trust fund settlements are not taxable. The IRS generally does not consider compensation for physical illness (like mesothelioma) to be taxable income. That said, we recommend speaking with a tax professional for personalized advice.

Why Asbestos Class Action Settlements Are Not Typically Pursued

Because each asbestos exposure case is unique—different jobs, products, diagnoses—courts rarely approve class actions for mesothelioma and asbestos. Individual claims consistently produce better outcomes, especially when handled by a qualified attorney.

FAQs About Chicago Asbestos Trust Fund Claims

How do lawyers determine which specific asbestos trust funds to file claims with?

By investigating your work history, military service, and known exposure to match with qualifying products and companies.

What type of work history information is most important for asbestos trust fund claims?

Job sites, trades, dates of employment, union affiliation, and any documentation of product exposure.

Is there still enough money in the $30 billion trusts for future victims exposed to asbestos?

Yes. Payment percentages are adjusted to ensure asbestos trust funds remain available for future victims.

Can I file mesothelioma fund claims myself without hiring a law firm?

Technically yes, but the process is complex. Without an experienced mesothelioma lawyer, most individuals miss out on significant compensation.

How long do I have to file an asbestos trust claim in Illinois after diagnosis or death?

Under 735 ILCS 5/13-202, most asbestos-related personal injury claims must be filed within two years of the date the illness was discovered. For wrongful death cases, 740 ILCS 180/ allows family members to file within two years of the victim’s passing. 

Start Your Claim: Get a Free Consultation About Asbestos Trust Funds

If you or a loved one has been diagnosed with mesothelioma or another asbestos-related illness, you may be entitled to significant compensation through one or more asbestos trust funds. These claims are time-sensitive and require careful documentation to secure the highest possible payout.

At Rosenfeld Injury Lawyers, we have the experience, resources, and commitment to guide you through every step of the asbestos trust fund claims process—from identifying eligible trusts to securing fast, fair compensation.

Whether you’re pursuing a claim after a recent diagnosis or seeking justice for a loved one’s wrongful death, we’re here to help you maximize your total compensation through mesothelioma trust funds, asbestos lawsuits, and VA benefits where applicable.

Call (888) 424-5757 or fill out our online form. There’s no cost to speak with a personal injury lawyer—and no fee unless we help you recover compensation.

All content undergoes thorough legal review by experienced attorneys, including Jonathan Rosenfeld. With 25 years of experience in personal injury law and over 100 years of combined legal expertise within our team, we ensure that every article is legally accurate, compliant, and reflects current legal standards.