Asbestos trust funds are a substantial source of compensation for victims of asbestos exposure and provide advantages but also drawbacks compared to other sources of compensation. Because these trust funds are unique to various asbestos cases, they have corresponding regulations and procedures for accessing them if those injured by the toxic material are eligible for compensation.
Trust funds are legal tools that ensure that money is protected and explicitly used by the person who placed the money in trust. Thus, asbestos trust funds are large amounts of money put together to ensure that those harmed by asbestos exposure have access to compensation now and in the future.
Despite knowledge becoming widely known in the 1970s about asbestos being highly toxic and that asbestos exposure may cause cancer, many asbestos companies continued to use the mineral, placing their employees and customers at significant risk of exposure. It was the case of the military industry, especially shipbuilding, as the Navy needed many ships for the Second World War. As time went on, more and more people with a history of asbestos exposure were getting sick, and these people filed lawsuits to receive compensation for their injuries. Many asbestos companies were found extremely negligent in those lawsuits and thus liable for causing illnesses linked to asbestos exposure.
Most of these companies filed for bankruptcy to avoid paying for their wrongdoing. Still, bankruptcy courts required them to set up trust funds that remain available for asbestos victims in the future. Today, billions of dollars in more than 60 independent trust funds are available for those harmed by asbestos exposure.
How Do You Know If You Qualify to Claim Asbestos Compensation?
Asbestos exposure occurs in various environments, often linked to specific products or occupations. Certain industries, among them the military industry, exposed workers through:
- asbestos products in properties
- high-risk occupations in shipyards
Consequently, service members who worked and lived on Navy ships built before the 1980s or fulfilled duty in WW2 military bases faced health risks by:
- military exposure
- secondhand exposure
To qualify for asbestos compensation, veterans need to fulfill specific requirements that provide a link to asbestos or products made with it. Those who wish to file an asbestos trust fund claim must be able to show the circumstances of their medical claim and connect their symptoms to an asbestos product. Moreover, victims of asbestos exposure need to meet the following to receive financial compensation:
- exposure to asbestos on the job or in the military
- diagnosis that has a definitive causal relation with asbestos exposure
- file claim within the statute of limitations
Furthermore, eligibility for asbestos trust fund compensation varies, depending on the specific trust fund. Generally, they require that claimants prove that they were exposed to asbestos due to a particular job they performed with or around a specific asbestos product and that said job led to their injury. All in all, the criteria for claims being granted and to access an asbestos trust fund include:
- proof of malignant asbestos disease - the medical records should show an asbestos-related cancer diagnosis, and the pathology report needs to be signed by a board-certified pathologist.
- proof of asbestos exposure - diagnostic records such as X-ray reading by a certified B-reader, MRIs, CAT scans, and blood studies should document the diagnosis.
Veterans should have their diagnoses accompanied by a doctor's statement that at least ten years have passed between their first exposure and the diagnosis. The latency period can also be backed up by the veteran's documented history of asbestos exposure. Occupational exposure evidence should demonstrate at least five years of exposure before 1982. It's a statement of significant asbestos exposure that means employment for a cumulative period of at least five years when the veteran was regularly exposed to asbestos through:
- handling raw asbestos fibers
- altering, repairing, or otherwise working with asbestos-containing products
- working near others whose occupations generated asbestos dust
How and Where You May Have Been at Risk of Asbestos Exposure?
Once veterans receive a diagnosis with a condition considered compensable and the claim has been brought within the time limit, it has to be established when, where, and how the veteran was exposed to asbestos.
There may be uncertainty about where the exposure occurred in many cases, but the information is nevertheless essential. According to medical evidence, veterans' cancerous lung or throat conditions are caused by heavy exposure to asbestos over many years. Therefore, a veteran receiving a diagnosis with one of these diseases is a good starting point for looking for evidence of working with asbestos regularly and suffering longtime exposure to airborne asbestos dust. The medical documentation describing the extent to which asbestos contributed to the victim's disease is also a good indication of the period the veteran was exposed to asbestos.
Veterans who meet medical and other criteria can file asbestos trust fund claims if the time limit hasn't expired. The general time limit is usually three years from the date of diagnosis, but in some cases, the statute of limitations may be up to five years from the diagnosis date. However, some trusts have shorter time limits; therefore, it's important to file as soon after diagnosis as possible.
We Offer Assistance for Navy Veterans in Filing Claims
In addition to filing for compensation with the asbestos trust funds, veterans may also file a claim with the VA to access VA disability benefits. If you fulfilled duty on a naval vessel built before the 1980s and have proof of asbestos exposure, you are eligible for expedited claims and immediately qualify for compensation if diagnosed with one of the following cancers :
- pharyngeal cancer
- colorectal cancer
- mesothelioma
- laryngeal cancer
- esophageal cancer
- urogenital cancer
- bronchial cancer
- lung cancer
- gastrointestinal cancer
Filing claims is complicated and full of rigorous requirements, so the process can be daunting when attention and energy should be focused on the veterans' healing. With the assistance of an experienced asbestos lawyer, you can spare the emotional and financial stress of pursuing compensation. We can help by putting you in touch with the best attorney for your case.