Government & Law Health & Wellness

5 Things A Mesothelioma Patient Needs To Know About Asbestos Trust Fund

The moment your diagnosis for mesothelioma is confirmed, the next step to take should be seeking quality medical care. This is to enable you to manage and survive the deadly effects of the disease. Funding your medical care can be costly, especially without a plan. Most patients go for mesothelioma settlements after filing lawsuits, but the money is never enough. However, asbestos trust fund serves the purpose. So, what are the most important things to know about the asbestos trust fund?

They are Special Trusts for Mesothelioma Patients

While other people affected by extreme exposure to asbestos can file for the trust fund, the beneficiaries are usually mesothelioma patients. The effects of cancer have been known for a long time now, and most companies have prepared well by putting money in the trust fund for such eventualities. As a mesothelioma patient, you have the best chance of getting sustainable compensation for yourself and your family as the asbestos trust fund is meant for you.

A Lawyer Helps Access Asbestos Trust Funds

Working with a mesothelioma lawyer will help you access the money in the trust funds without much struggle. You should note that providing medical evidence for your diagnosis makes the process easier. The lawyer will help you find, file, and present the medical bills and other records to the company and the court. It would be best if you had the lawyer because of the knowledge he has about asbestos trust funds.

The Amount Received Vary

As a patient, the money you receive from the trust fund differs with the nature of the disease and the extent of the effects. Mesothelioma patients qualify for higher compensation than asbestosis or lung cancer patients. Having a lawyer by your side and the medical records will help you understand the amount to expect from the trust fund.

You Can Access Compensation from Multiple Trusts

When products made with asbestos are sold, there is a chain of companies involved. This means that with evidence to prove multiple companies are responsible for your asbestos exposure and the developed disease, you can file claims against multiple trust funds. Every responsible party should pay for the damage done, especially if you develop mesothelioma. As a victim, the more claims you make on the trusts, the higher your compensation.

Asbestos Trust Funds Differ From Filing a Lawsuit

When you file for mesothelioma lawsuits, it is against the products’ manufacturer with asbestos and one that did not file for bankruptcy. In such cases, the manufacturer does not have a trust fund. On the other hand, asbestos trust funds are for companies that have filed for bankruptcy and can be multiple. It is, however, possible to file the lawsuit alongside the trust fund claim. To determine your options, let the lawyer guide and help you.

Filing for asbestos trust funds is one way to fund and sustain your medical care needs as a mesothelioma patient. Asbestos trust funds offer a better avenue than filing for mesothelioma settlements. This is because you will avoid the length legal process and access money within a shorter time. You also have an option to file against multiple trust funds and access more money in your case. Having the relevant knowledge about asbestos trust funds helps meet your goals with ease.

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