How Does a Trust Fund Benefit You with Mesothelioma Claims

Mesothelioma cases are expensive, and the sole purpose of a trust fund is to pay off future asbestos claims. Companies known for their recklessness by exposing employees to asbestos are now becoming primarily bankrupt. And their lack of financial resources doesn’t acquit them from paying all the claims that come their way. 

That means if you have a viable case of diagnosis with mesothelioma, you can easily tap into these funds. So how does a trust fund benefit you with mesothelioma cases?  If you wish to find out, continue reading:

  • You Can Get A Good Compensation

Trust funds can compensate you adequately for the mesothelioma treatment you went through. The value range you get is from an approximate value of $7,000 to approximately $1.2 million. Paying for cancer without any support is hard. 

A trust fund makes sure you get proper compensation by giving you a fixed percentage on your case. Suppose your claim goes into details of your treatment with several rounds of chemo, possible surgery, and radiation. In that case, you deserve compensation. 

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  • Anyone Can File

When it comes to filing a claim, there’s no limit to who can file. You can quickly get money from asbestos trust funds no matter who you are. As long as you have mesothelioma or proof that a loved one died from the disease, you can file. 

The only factor you need to worry about is hiring a good lawyer. So, make sure you research and look for the best lawyer on the block to help. 

  • Saves You From A Hassle Of A Court

Standing in court is not easy. It would help if you prepared your statements and presented yourself in front of a jury. In addition, cases that go into court take a long time to complete. The jury is allowed to deliberate for years to come. 

When you opt to submit a claim to a trust fund, you’re letting go of the process of a court appearance. Instead, your claim goes for review, and within a few months, you get paid.

  • You Can Still Tap Into Veteran Benefits

If you’re a veteran with mesothelioma, you get access to veteran benefit programs. These help you pay for your treatment without burdening you with the entire cost. Trust fund claims interfere with the no benefits program. 

You can still access your veteran benefits and get help for your treatment while filing a claim. Every claim concludes that you’ll still get compensated despite tapping into an aid. For people with more than one health complication, advanced age, and are veterans. 

  • Uses A Percentage System

The money you get is a percentage of the total value. The purpose isn’t to underpay you but to save money for future victims. When you file a claim, your case gets an approximate figure. The trust fund pays you a percentage of the total payout by calculating the total of similar cases. 

So suppose the trust fund calculates a value of approximately $180,000 for mesothelioma claims. After careful deliberation, if your assigned value is 25%, you get $45,000. The value is enough to cover all medical losses you may have incurred from treatment. If your case is more extensive, then the value goes higher. There’s no chance you won’t get money. Instead, you’ll get something out of your claim. 

  • Your Family Still Gets Money Even When You Pass

If your mesothelioma case proves to be fatal, your family still gets compensated. Trust funds will never abandon your family even if you’re no longer around. If your family depended on you as the breadwinner, they get paid accordingly. 

They get sufficient funds to cover all the money which went into your treatment. The trust fund will consider your family’s situation and appoint a proper value.

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What Are The Steps To File A Mesothelioma Claim?

There are specific steps you need to take before filing a claim. Knowing them will help you make a proper claim for yourself:

  1. Find The Trust Funds: You need to locate trust funds to submit a claim. A mesothelioma lawyer can help you identify these institutions. They can determine all the factors of asbestos exposure that make you eligible for a claim. These include the extent of exposure, where you were exposed, and your current health status. Your lawyer may file to multiple trust funds if your case is extensive. 
  2. Work On Drafting A Claim: Every trust fund has a set of guidelines that need studying and following to make your claim eligible. These guidelines include the timeline of filing and the documents you need to submit. You may need to submit all your medical prescriptions, including the diagnosis confirmation. In addition, you may need to submit your financial records, exposure history, and treatment you received; for all of these, your lawyer is valuable. 
  3. How To File The Claim And The Review Process: Once your claim goes to the trust fund, your attorney can help you choose how you want it reviewed. The review process plays a substantial hand in the money you get. So the choice you make needs to reflect the importance of your claim. There are two types of reviews trust funds put each claim through. They are as follows:
  • Expedited Review. The trust fund will match your case against their fixed criteria if you choose to expedite the review. Suppose they set a minimum of ten years of asbestos exposure for the plaintiff to get compensated. Unless you have ten years on your documents, your claim will get rejected right away. Once the institution goes through your case and its criteria, you get assigned a percentage and paid accordingly. In most cases, similar topics get the same percentage.
  • Individual Review. If you request an individual review, it may prolong the payment timeline. Individual reviews invite the institution to study your case deeply. They may consider all the parameters of your claim, including analyzing the value of your case. Careful deliberation takes longer. Your case is also more heavily scrutinized before a monetary value gets assigned. 
  1. The Payment. After successfully reviewing your case, the trust fund will start liquidation. This informs them how much your case is worth and provides you with appropriate compensation. If you go for an expedited review, there are already set values for each case. So when you submit your claim to your expedited review, it gets matched against a predetermined value. If you go for an individual assessment, you get a chance to get a payment that may be higher or lower than anticipated. The determining factor is your case and how extensive your illness has spread.

Wrap Up

Asbestos companies set up trust funds as a hedge against bankruptcy. They make sure that they use the leftover money to settle all legal cases and avoid more lawsuits. You can benefit greatly from these funds. The compensation is reasonable, and you avoid the hassle of courts. If you wish to make your trust fund claim work, you need to find a suitable lawyer for yourself. The help of an experienced lawyer can help you pick the right review type and get the best compensation.