As asbestos claims continue to rise, so too do
scams. Mesothelioma related fraud can happen on both ends of the spectrum and
are both equally as harmful – companies claiming to offer compensation
for mesothelioma and people making false mesothelioma claims in order
to get a check. Trust funds are one potential forum for mesothelioma scams
to manifest themselves.
What is an asbestos trust?
Some victims of mesothelioma can get money through trust funds and similar
types of grants. While a company responsible for asbestos exposure establishes
the trust, the trust is managed by a trustee who decides who gets compensation
from the trust and how much. Trusts are often set up by companies that
file for bankruptcy but are still responsible for paying mesothelioma
compensation. These bankruptcy trusts must have enough money to compensate
current and future victims.
Trust Claims versus Lawsuits
Trust claims are different than lawsuits, but with both, the claimant must
provide enough evidence to show mesothelioma connected to asbestos exposure.
Be wary of any company that advertises to help mesothelioma patients get
trust fund money, especially if the company asks for payment upfront.
How are asbestos trusts created?
Companies create asbestos trusts via a legal procedure known as bankruptcy
reorganization. By filing for bankruptcy, a company is immune to tort
litigation and instead must set money aside in a trust for potential claimants.
Anyone who qualifies for compensation against a company that has set up
a trust will draw that compensation from the trust. The amount of compensation
is determined by a trustee.
Worthington & Caron, PC has been working exclusively with mesothelioma
patients for over a decade. We know asbestos claims, we understand the
process, and we can easily detect the many scams that are out there.
Contact us today if you or a loved one has been diagnosed. We can evaluate your case
and walk you through
your legal rights and options.