Illinois Mesothelioma Lawyer

Mesothelioma Lawyer Illinois – Asbestos Lawyer Illinois – Lung Cancer Lawyer

Have you or a loved one been diagnosed with Mesothelioma or Lung Cancer as a result of asbestos exposure?  Have you lost a loved one to this terrible disease?  You are not alone.  We are here to help.  Did you know that you may be entitled to settlement and trust fund money to help pay for bills and provide financial security for your family and loved ones?  Call us today Toll Free 1-866-777-2557 to see if you qualify.  Or fill out our online contact form and an Illinois Mesothelioma Lawyer will get back to you within 24 hours to answer any questions you have.  This is a free no obligation consultation.  There are no legal fees or costs to you unless you receive money at the end of the case.  Mesothelioma Lawyer Illinois

Asbestos Lawyer Illinois

Representing the entire state of Illinois:

 

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Asbestos Trust Funds

There have been numerous companies associated with exposing their employees to asbestos over the years. Legally, these companies are responsible for putting their employees in danger. Asbestos trust funds were set up to compensate workers who were exposed, as well as their family members who may have been injured by exposure to asbestos being brought home by the worker. The government has mandated that these companies establish trusts, with the trust fund money being managed by a trustee.

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To date, there are 60 asbestos trust funds with over $37 billion dollars in funds available. To date, over $18 billion has been paid out to claimants. The trust funds came about when companies were unable to pay their debts. Bankruptcy courts forced the companies to reorganize under a Chapter 11 bankruptcy in order to set up a trust for victims of asbestos exposure. They did this to protect the workers who were trying to file claims against companies that were going bankrupt.

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All asbestos trust funds are set up differently, and they pay claims based on the type of injury (i.e. asbestosis, lung cancer, mesothelioma, or even death). Each trust fund has their own schedule set up as to what they pay out for specific injuries. Most companies do not have enough money in their trust fund to pay out the entire amount a claimant should receive. Therefore, victims are offered a percentage of their claim. This is to ensure there are funds available to future claimants. A general average is around 25 percent, but this is largely based upon which company the trust is for.

When a company that works with asbestos decides to file for bankruptcy, the courts expect detailed information regarding how the company plans to reorganize and also how much in funds will be set aside for the trust fund. Anyone interested in how the re-organization will be set up can give their opinion and they can certainly object if they don’t agree with it. Anyone who is affected by the trust fund can weigh in, including claimants, their family members, creditors, and creditors for the defendants.

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Any of the interested parties can offer their own input on what they think should be done. They can use the recommendations of economists, legal experts such as doctors, and even social scientists. With so many people being able to have a say in the proceedings, it can take years to set up an asbestos trust fund. However, once in place they offer victims and their families some peace of mind when it comes to paying their bills and getting compensated for their exposure to asbestos.

If you or a loved one have been diagnosed with Mesothelioma or Lung Cancer, please contact us today to discuss your options.  Toll Free 1-866-777-2557.  Please call now.

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