Asbestos Trust Funds
More than $30 billion remains in more than 60 active asbestos trust funds for people diagnosed with mesothelioma. Meirowitz & Wasserberg has helped hundreds of families file claims and secure the compensation they deserve.
Expertise
Mr. Wasserberg is proud to call himself a Trial Lawyer. He is often a featured speaker at industry summits and gatherings of the nation’s leading attorneys, from both sides of the bar. He is recognized by both his peers and his adversaries and is considered one of the nation’s premier mesothelioma and negligence attorneys
Content written by Dan Wasserberg
- Expertise
Mr. Wasserberg is proud to call himself a Trial Lawyer. He is often a featured speaker at industry summits and gatherings of the nation’s leading attorneys, from both sides of the bar. He is recognized by both his peers and his adversaries and is considered one of the nation’s premier mesothelioma and negligence attorneys
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What Is an Asbestos Bankruptcy Trust Fund?
Asbestos bankruptcy trust funds are court-ordered financial trusts created under Section 524(g) of the U.S. Bankruptcy Code to compensate people diagnosed with mesothelioma and other asbestos-related diseases. These trusts were established when asbestos companies filed for Chapter 11 bankruptcy to manage the overwhelming volume of personal injury claims.
Researchers have documented a link between asbestos exposure and lung cancer since the 1920s, but it wasn’t until the 1970s that lawsuits began to roll in as people exposed to asbestos started receiving diagnoses. The volume of claims grew so large that by the 1980s, dozens of asbestos companies started declaring bankruptcy. Before courts allowed these companies to discharge their debts, the government required them to fund trusts to pay future claims.
Today, 60+ active trust funds hold more than $30 billion for people diagnosed with asbestos-related diseases. Trustees have already distributed more than $17 billion to claimants, according to data from the GAO and RAND Corporation. The Furthering Asbestos Claim Transparency Act of 2017 added stricter oversight to the process, requiring trusts to report claim data publicly to prevent duplicate payouts across multiple funds.
How Are Asbestos Bankruptcy Trusts Created?
When an asbestos company files for Chapter 11 bankruptcy, it can’t simply walk away from its liability. Section 524(g) of the U.S. Bankruptcy Code requires the company to establish a trust funded with assets, including cash, stock and insurance proceeds, before a court discharges its debts. A federal bankruptcy judge must approve the trust and its payment structure.
Trust administrators set a payment percentage based on the fund’s total assets and the projected number of future claims. This percentage determines how much of a scheduled claim value a claimant actually receives. Administrators periodically review and adjust the percentage to ensure the fund can pay both current and future claimants.
When trust assets run low, administrators reduce the payment percentage to keep the fund paying claims over time. In 2024, the U.S. Supreme Court’s decision in Truck Insurance Exchange v. Kaiser Gypsum reinforced insurance companies’ rights to participate in asbestos-trust bankruptcy proceedings. This ruling continues to affect how some trusts manage their assets.
List of Active Asbestos Trust Funds
As of 2026, more than 60 trusts remain open and accepting claims. Our attorneys routinely file with multiple trusts per client to maximize total compensation. People diagnosed with mesothelioma and their families may be eligible to file claims against these asbestos trust funds.
Dozens of additional trusts may apply depending on your specific exposure history. Our experienced asbestos attorneys can identify your eligibility.
| Trust Fund | Initial Funding | Notes |
|---|---|---|
| Bondex International Trust | $797.5 million | Created 2016; mesothelioma scheduled value $80,000 |
| DII Industries Trust (Halliburton) | $2.5 billion | Pays at 60%; mesothelioma scheduled value $136,500 |
| Johns Manville Asbestos Trust | $2.5 billion | First trust created (1988); pays claims at 5.1% |
| Quigley Company Asbestos Trust | $965 million | Pfizer-funded; created 2013 |
| WRG Asbestos PI Trust (W.R. Grace) | $3 billion | Created 2014; mesothelioma scheduled value $180,000 |
Asbestos Trust Fund Payment Percentages
Each asbestos trust fund sets a payment percentage that determines how much of the scheduled claim value a claimant actually receives. Payment percentages range from less than 5% to 100% of the scheduled claim value. Filing with multiple trusts is the most effective strategy for maximizing total compensation.
| Trust Fund Name | Current Payment Percentage | Scheduled Value (Mesothelioma) | Estimated Payout |
|---|---|---|---|
| Johns Manville Asbestos Trust | 5.1% | $350,000 | $17,850 |
| DII Industries Trust | 60% | $136,500 | $81,900 |
| Bondex International Trust | 29.5% | $80,000 | $23,600 |
| W.R. Grace Asbestos PI Trust | 30.1% | $180,000 | $54,180 |
| Quigley Company Asbestos Trust | 13.3% | $200,000 | $26,600 |
| NARCO Asbestos Trust | 100% | $127,604 | $127,604 |
| Federal-Mogul Trust | 3.9% | $200,000 | $7,800 |
Who Is Eligible to File an Asbestos Trust Fund Claim?
Anyone diagnosed with an asbestos-related disease who can document exposure to a company with an active trust fund may be eligible to file a claim. Each trust fund sets its own eligibility requirements.
Criteria to Qualify for a Trust Fund Claim
- A confirmed medical diagnosis of mesothelioma or another asbestos-related disease
- A diagnosis that meets the trust’s specific disease criteria and exposure requirements
- Documentation that the company’s asbestos-containing product caused your exposure
- Exposure during a time period the trust recognizes
Can Family Members File a Claim?
Surviving spouses, children and estate representatives can file wrongful death claims on behalf of a loved one who passed away from an asbestos-related disease. Families can pursue the same compensation their loved one would have been eligible to receive.
Can Secondhand Exposure Qualify?
Secondhand exposure can also qualify. If a worker regularly brought asbestos fibers home on their clothing, a spouse, child or someone else who had frequent contact with those fibers may meet certain trust fund requirements. An experienced asbestos attorney can evaluate whether a specific trust covers secondhand exposure.
Average Asbestos Trust Fund Payouts in 2026
Asbestos trust fund payouts for mesothelioma claims range from $7,000 to $1.2 million per trust, with a median scheduled value of $180,000, according to the RAND Institute for Civil Justice. An individual trust fund claim pays about $41,000 on average, according to RAND. Claimants who file with multiple trusts typically receive $300,000 to $400,000 in total compensation, with some cases exceeding $1 million.
Several factors affect how much compensation a claimant receives. Disease type carries the most weight, mesothelioma claims receive the highest scheduled values across trust funds. Trustees also weigh exposure duration and the quality of documentation supporting the claim.
Trust funds offer 2 review tracks. Expedited review processes claims faster and pays the standard scheduled value. Individual review can be more beneficial because claimants can challenge the payout amount the trust initially offers, and those with mesothelioma may receive more than the pre-determined amount assigned to their disease level.
| Payout Factor | Amount | Source |
|---|---|---|
| Individual trust payout range | $7,000 to $1.2 million | RAND Institute for Civil Justice |
| Median scheduled value (mesothelioma) | $180,000 | RAND Institute for Civil Justice |
| Average individual trust payout | ~$41,000 | RAND Institute for Civil Justice |
| Typical total from multiple trusts | $300,000 to $400,000 | RAND Institute for Civil Justice |
| Total assets across all trusts | $37 billion | U.S. GAO |
| Total already distributed | $17.5 billion | U.S. GAO |
Trust Fund Claims vs. Mesothelioma Lawsuits
Trust fund claims and mesothelioma lawsuits are separate legal processes and most claimants pursue both at the same time. Trust fund claims go against companies that have already declared bankruptcy. Mesothelioma lawsuits target solvent companies still operating today. An experienced attorney coordinates both to maximize compensation.
Trust fund claims typically resolve faster than lawsuits because they don’t go through the court system. A lawsuit can take longer, but it often results in a higher payout, especially for mesothelioma cases that go to trial. Filing both simultaneously means you can receive trust fund compensation while your lawsuit is still in progress.
An attorney who handles both processes can identify every bankrupt and solvent company responsible for your asbestos exposure, then pursue each path at the same time to maximize your total mesothelioma compensation.
| Feature | Trust Fund Claims | Mesothelioma Lawsuits |
|---|---|---|
| Filed Against | Bankrupt companies | Solvent companies |
| Typical Timeline | 3–6 months | 12–24 months |
| Process | Administrative | Court |
| Can File Both? | Yes | Yes |
Filing Deadlines and Limitations
Each asbestos trust fund sets its own filing deadlines and eligibility requirements. State statutes of limitations for mesothelioma set separate deadlines for when you must file legal claims. Missing either deadline can cost you the right to recover compensation, so it’s critical to act quickly after a diagnosis.
Trust funds set their own cutoff dates independent of state law. Some trusts require claims within a set number of years from diagnosis, while others tie deadlines to the date of death for wrongful death claims. These deadlines vary from fund to fund and an experienced attorney can identify every applicable deadline before it expires.
State statutes of limitations add another layer of urgency. New York, for example, gives claimants 3 years from the date of diagnosis to file. Families filing a wrongful death claim in New York have 2 years from the date of death. Other states set shorter windows, some as little as one year. An attorney familiar with asbestos claims knows the rules in every state where you lived or worked.
Courts can make exceptions to statutes of limitations in limited circumstances, but it’s never safe to assume an exception will apply. The safest approach is to contact one of our attorneys as soon as possible after a diagnosis to make sure every deadline stays on track.
How to File an Asbestos Trust Fund Claim
Filing an asbestos trust fund claim isn’t as complicated as going to court, but the process requires careful documentation and knowledge of each trust’s specific rules. One of our experienced attorneys can make sure you file with every trust you qualify for and meet each one’s deadline.
Step 1: Choose an Experienced Asbestos Attorney
An attorney who specializes in asbestos trust fund claims knows which trusts exist, which ones apply to your exposure history and how to file with each one correctly. Meirowitz & Wasserberg ranks among the top 10 national asbestos firms with more than $500 million in total recoveries. Our attorneys have filed claims with dozens of trust funds and know how to identify every trust relevant to your case.
Step 2: Gather Asbestos Exposure Evidence
Your attorney will help you compile medical records confirming your diagnosis, employment history, military service records, product identification records and witness statements. The more precisely you can document when, where and how you encountered asbestos, the stronger your claim becomes.
Step 3: File Claims With Applicable Trust Funds
Your attorney identifies every trust fund connected to your asbestos exposure and files claims with each one simultaneously. Most claimants qualify for more than one trust. Filing with multiple trusts at the same time is the most effective way to maximize your total compensation.
Step 4: Claim Review and Processing
Each trust reviews your claim through one of two tracks. Expedited review processes claims faster and pays the standard scheduled value. Most claimants receive payment within 3 to 6 months. Individual review takes longer but can result in a higher payout. Claimants who choose individual review can challenge the trust’s initial offer, and those diagnosed with mesothelioma may receive more than the pre-determined scheduled amount. About 2% to 3% of claims go through individual review.
Step 5: Receive Your Payout
Expedited claims typically pay within 3 to 6 months of filing. Individual review claims can take 12 months or longer. If your attorney files claims with multiple trusts, each trust pays on its own timeline, so you may receive payments at different times from different funds.
Our Asbestos Trust Fund Results
Meirowitz & Wasserberg is a top-10 national asbestos filer with more than $500 million in total recoveries across trust fund claims, verdicts and settlements. Our attorneys have handled 300+ mesothelioma cases and 650+ asbestos-related cases, including cases that other mesothelioma law firms declined to take.
- $5.5 Million Recovery: Our client served in the U.S. Navy as a boiler tender and later worked for a power company, where he encountered asbestos-containing materials throughout his career. Our attorneys identified every trust fund connected to his exposure history and filed claims across multiple funds while simultaneously pursuing litigation. The total recovery reached $5.5 million.
- $5.4 Million Recovery: Our client worked as a journeyman pipefitter at a refinery along the Houston ship channel, where he regularly handled asbestos-containing pipe insulation and equipment. Our attorneys filed trust fund claims with every applicable trust while pursuing the solvent companies responsible for his exposure. The total recovery reached $5.4 million.
- $4 Million Recovery: Our client worked as a mechanic at a Puerto Rican sugar mill and came to us after another firm had already turned the case away. Our attorneys took the case, identified the responsible parties, filed the applicable trust fund claims and won. The total recovery exceeded $4 million.
Every mesothelioma case is different. While there is no guarantee of a specific outcome, our firm is committed to fighting for every dollar our clients deserve, including cases other firms turned away. Past results do not guarantee future outcomes.
Can Veterans File Asbestos Trust Fund Claims?
Veterans represent a significant portion of asbestos trust fund claimants. Military personnel who served in the Navy, Army and Coast Guard were exposed to asbestos in shipyards, engine rooms, barracks and military vehicles throughout their service. Veterans can file trust fund claims and pursue VA disability benefits at the same time.
The military relied heavily on asbestos-containing products from many of the same manufacturers that trust funds now cover. Ship insulation, boiler room components, brake pads and building materials on military bases all contained asbestos from these companies. That means many veterans qualify to file claims with multiple trust funds based on their military exposure alone.
Trust funds that commonly apply to military exposure include the Johns Manville Asbestos Trust, the DII Industries Trust and the W.R. Grace Asbestos PI Trusts. An experienced attorney reviews your full service history to identify every trust fund connected to the products you encountered during your time in the military.
Trust fund payouts don’t reduce VA disability compensation. Veterans can collect trust fund payments and receive VA benefits without one affecting the other. Our attorneys coordinate both processes simultaneously so veterans don’t leave any compensation on the table.
Meirowitz & Wasserberg has secured significant recoveries for veterans diagnosed with mesothelioma. Our results include a $5.5 million recovery for a Navy boiler tender, a $5.1 million recovery for a Navy machinist’s mate and a $3.6 million recovery for a Navy boiler tender who encountered asbestos in CIA headquarters boiler rooms.
Frequently Asked Questions About Asbestos Trust Funds
How much money is left in asbestos trust funds?
More than $37 billion remains across all active asbestos trust funds, according to the U.S. GAO. Trustees have already distributed more than $17.5 billion to claimants. Funds continue to accept new claims, and an attorney can identify which trusts still apply to your exposure history.
How much are asbestos trust fund payouts?
Individual trust fund payouts range from $7,000 to $1.2 million per trust, with a median scheduled value of $180,000, according to the RAND Institute for Civil Justice. Claimants who file with multiple trusts typically receive $300,000 to $400,000 in combined compensation, with some cases exceeding $1 million. Disease type, exposure history and each trust's payment percentage all affect the final amount.
How long does it take to receive trust fund compensation?
Expedited review claims typically pay within 3 to 6 months of filing. Individual review claims can take 12 months or longer. If your attorney files claims with multiple trusts, each trust pays on its own timeline, so you may receive payments at different times.
Can I file claims with more than one trust fund?
Yes. Most claimants qualify for more than one trust fund. An experienced attorney reviews your full exposure history and identifies every trust fund that applies to your case. Filing with multiple trusts simultaneously is the most effective way to maximize your total compensation.
How do trust fund payment percentages work?
Each trust sets a payment percentage that determines how much of your scheduled claim value you actually receive. A trust with a 30% payment percentage pays $30,000 on a $100,000 scheduled value. Administrators adjust these percentages periodically to make sure the fund can pay current and future claimants. Payment percentages range from less than 5% to 100%, depending on the trust.
Do asbestos trust fund payouts affect my lawsuit?
Trust fund claims and lawsuits are separate legal processes. Filing a trust fund claim doesn't prevent you from filing a lawsuit and most claimants pursue both at the same time. Some states require claimants to disclose trust fund claims during litigation, so it's important to work with an attorney who coordinates both processes together.
Can family members file a trust fund claim after a loved one passes away?
Yes. Surviving spouses, children and estate representatives can file wrongful death or survival action claims on behalf of a loved one who passed away from an asbestos-related disease. State deadlines for wrongful death claims vary, so it's important to contact an attorney as soon as possible.
How Our Attorneys Help You File Trust Fund Claims
Meirowitz & Wasserberg is a top-10 national asbestos filer with more than $500 million in total recoveries. Our attorneys have handled 300+ mesothelioma cases and 650+ asbestos-related cases, including cases other firms declined to take. We know which trusts exist, which ones apply to your exposure history and how to file with each one correctly.
Here’s What Our Attorneys Do for Every Trust Fund Client
- Coordinate trust fund claims alongside any lawsuits and VA benefit applications
- File claims with multiple trusts simultaneously to maximize your total compensation
- Gather and compile the exposure evidence each trust requires
- Handle both expedited and individual review processes
- Identify every trust fund that applies to your specific exposure history
Dan Wasserberg leads our national asbestos practice and holds licenses in Texas, New York, New Jersey and Illinois. Legal directories recognize him as a Top 10 Mesothelioma Lawyer and Super Lawyers Rising Stars honoree. Legal directories also recognize Sam Meirowitz as a Top 100 Trial Lawyer and Super Lawyers Rising Stars honoree. He brings experience as a former Bronx DA prosecutor. Together, they’ve built a practice that wins cases.
There’s no fee unless we win. We advance all costs. Our team is available 24 hours a day, 7 days a week, to answer your questions and start your case. Contact us for a free consultation today.
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