Asbestos Trust Funds
Last Updated:
- May 16, 2025
Key Facts on Asbestos Trust Funds
Active Trust Funds:
40+ active funds
Amount in Funds:
Approximately $30 billion combined
Process:
No court involvement; avoids litigation
Payout Amount
Can reach as high as $500,000
Timeline for Payout:
Typically 3 to 15 months
Deadline to File:
Varies by trust, but generally two or three years from diagnosis
What Are Asbestos Trust Funds?
Asbestos trust funds were created to compensate individuals suffering from asbestos-related diseases such as mesothelioma, lung cancer, and asbestosis. Many asbestos product manufacturers filed for bankruptcy in the face of mounting liability for asbestos-related harm. Bankruptcy courts have required more than 60 companies to establish asbestos trust funds. For decades, these trust funds have compensated asbestos victims and their families.
Did You Know?
Asbestos trusts paid out more than 3 million claims between 1988 and 2010, amounting to more than $17.5 billion in compensation for asbestos-exposure victims and their families.[1]
Who Can File an Asbestos Trust Fund Claim?
Each asbestos trust has its own claim procedures and eligibility requirements for claimants. Generally, to be eligible for compensation from an asbestos trust fund, you must be able to prove the company was responsible for some of your asbestos exposure and that you subsequently developed a qualifying asbestos-related illness. Some of the most common qualifying health issues for asbestos trust fund claims include mesothelioma, lung cancer, asbestosis, various other cancers, and severe pleural thickening that impacts lung function.
Additionally, most trust funds have time limits for filing a claim. These are often the same as the statute of limitations for filing a mesothelioma lawsuit in your state. Typically, you have two or three years from your asbestos disease diagnosis to file asbestos trust claims.
Questions About Asbestos Trusts?
Many families are uncertain about the asbestos trust claims process.
List of Asbestos Trust Funds
Today, over 40 trust funds are still active, and people exposed to asbestos-containing products from multiple companies can file claims with multiple trust funds.
The following are some of the largest active asbestos trust funds:
- ACandS
- ACMC
- Armstrong World Industries
- Babcock & Wilcox
- Celotex
- Combustion Engineering
- Congoleum
- Eagle Picher
- Federal-Mogul
- Fibreboard
- Fuller Austin Insulation Company
- G-1 Holdings, Inc. (GAF)
- Garlock Sealing Technologies
- Halliburton (Harbison-Walker & other companies)
- Johns-Manville
- JT Thorpe Co.
- Kaiser Aluminum
- North American Refractories Company (NARCO)
- Owens-Corning Fibreboard
- United States Gypsum (USG)
- W.R. Grace
Mesothelioma and other asbestos-related disease patients aren’t always eligible for trust fund proceeds, nor are trust funds the only method by which they can receive compensation. Some asbestos-exposure victims are eligible to file multiple trust fund claims or file them in addition to a mesothelioma lawsuit, depending on the companies that may be responsible for their illnesses. An experienced mesothelioma attorney can help you identify which paths to compensation are available by identifying all responsible companies.
Compensation Available from Asbestos Trust Funds
When filing for compensation for an asbestos trust fund, various factors can influence the amount of money you are eligible to receive. Some of these factors include the following:
- The nature of your diagnosed condition
- The severity of your illness
- Your age at diagnosis or death
- Whether you have any dependents
- The impacts of the disease on your life
- The trust fund’s payment percentage
If a loved one has passed away from an asbestos-related illness, you may be able to file a claim for compensation on their behalf. It’s important to know that you must file a claim with each relevant fund to receive compensation, and there is no limit to the number of claims you can file. You can pursue claims with the trusts established by each company responsible for your exposures and illness.
Asbestos trust fund payouts can reach as high as $500,000. In combination with damages obtained through lawsuits, some patients may receive millions of dollars in compensation.
Our sponsor, Baron & Budd, P.C., has recovered several multi-million dollar results for their clients, including the following notable results:
$8 million
recovered through a lawsuit and asbestos trust fund claims for a Local 53 insulator with pleural mesothelioma
Over $7 million
recovered through a lawsuit and asbestos trust fund claims for a Local 198 pipefitter and welder in Baton Rouge
$5.95 million
recovered through a lawsuit and asbestos trust fund claims for a boilermaker exposed to asbestos in petrochemical plants
However, results are not guaranteed and will vary depending on the circumstances of your claim.
What to Expect During an Asbestos Trust Fund Claim
Trust fund claims bypass the court system, often resulting in compensation within months. Sometimes this faster resolution helps patients address urgent medical needs. Your attorney will submit claims to each asbestos trust for a liable company.
When you file a claim with an asbestos trust, you will go through the normal legal discovery process. During this process, your attorney will work with you to establish that the company that established the fund exposed you to asbestos. If you have an active lawsuit in addition to your trust fund claims, this process is separate from the civil litigation process.
Did You Know?
An asbestos trust fund claim is handled outside the court system, meaning you will never have to set foot inside a courtroom.
Have Your Potential Asbestos Trust Fund Claim Evaluated
If you or a loved one have developed an illness due to asbestos exposure, filing asbestos trust fund claims with the help of an experienced mesothelioma attorney ensures you receive maximum compensation. An attorney can devise the best strategy for you and identify all possible claims. Seeking help from a dedicated, resourceful firm like our sponsor, Baron & Budd, P.C., can make the process as simple as possible for you.
The team at Baron & Budd, P.C. serves on numerous Asbestos Trust Advisory Committees and led the negotiations to create the $4 billion Halliburton national asbestos bankruptcy trust fund, which can be accessed nationwide.
Contact Louisiana Mesothelioma Advocates to connect with our sponsor, Baron & Budd, P.C., who can investigate, gather evidence, determine how and when you were exposed to asbestos, and explain the legal processes and options available to you.
Content Reviewed by
Todd Kale
Todd Kale meets with mesothelioma patients and their families across Louisiana to investigate their asbestos exposure, providing compassionate support and guidance during a difficult time.