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If you have been diagnosed with mesothelioma, you may have grounds for legal action against the party responsible for the asbestos exposure that has caused your condition. However, you could have varying legal options depending on who is liable, and it’s important to understand asbestos trust funds vs. lawsuit settlements, so you know what to expect in terms of the compensation you may be eligible to claim.
Understanding Asbestos Trust Funds Vs Lawsuit Settlements
The only known cause of mesothelioma is asbestos exposure, and for many years throughout the US, asbestos was widely used in many applications, primarily for its fireproofing and insulating capabilities. Over time, the health risks of this substance became apparent, and asbestos use declined dramatically over the past several decades. Unfortunately, thousands of people were exposed during the many years of asbestos use throughout the country.
Many US companies that formerly manufactured asbestos products went bankrupt, but not before they were legally compelled to establish trust funds to compensate those discovered in the future to have been harmed by their products. If you hire a mesothelioma lawyer after your diagnosis, their investigation into your case may reveal that the party responsible for your exposure is one of these companies that is no longer operating.
If so, you would likely be eligible to file a mesothelioma claim to their asbestos trust fund. This is a streamlined claim process compared to what you might expect in a personal injury lawsuit, but proving your eligibility would be challenging without an attorney’s help. These trusts pay out hundreds of thousands in most claims every year, and it’s important that you have legal representation to assist you with recovering suitable compensation through this avenue.
Alternatively, you could have grounds to file a personal injury case for toxic exposure. There are about 3,000 new mesothelioma cases diagnosed in the US each year, and while many of the parties responsible for these cases are companies that are no longer operating, the defendant in your case could be an employer, product manufacturer, property owner, or other party still in business.
The average five-year relative survival rate for all stages of pleural mesothelioma is only about 15%, so this news can be devastating for any family. You will need an experienced attorney’s help to determine whether you have grounds to file a personal injury case against a specific party responsible for the exposure that caused your diagnosis. If so, your attorney can help you file a personal injury claim against them.
The plaintiff in a personal injury case must prove that the defendant in their case is directly responsible for causing their claimed damages. A skilled mesothelioma attorney can gather and preserve crucial evidence, accurately calculate your damages, and assist you with negotiating a fair settlement from the defendant. However, litigation is sometimes necessary in these cases, and while this may take longer than settlement, it may yield a larger payout for the plaintiff.
Ultimately, every mesothelioma case is unique, and you need to speak with an experienced attorney about your state’s mesothelioma laws, your legal options for claiming compensation, and the types of damages you could be eligible to claim. Wallace & Graham, PA has nearly 40 years of experience helping clients nationwide claim compensation for mesothelioma, so reach out to our team as soon as possible to learn how we can help with your case.
FAQs
How Much Compensation Can You Claim From an Asbestos Trust Fund?
The amount of compensation you can claim from an asbestos trust fund depends on the details of your diagnosis, the severity of your illness, and other factors. Most asbestos trust funds in the US apply a scaling percentage to a claim to ensure these funds are able to continue payouts to future claimants. A mesothelioma attorney can help you through the filing mesothelioma claims process and verify that you receive a fair payout.
How Much Compensation Can I Claim With a Personal Injury Case?
The compensation you can claim with a personal injury case includes all medical expenses related to your diagnosis, any income you have been unable to earn or will be unable to earn in the future, and your pain and suffering. An experienced mesothelioma attorney can calculate the full potential value of your claim and assist you with negotiating a fair settlement from the defendant responsible for your diagnosis.
How Long Does it Take to Settle a Mesothelioma Case?
The time it takes to settle a mesothelioma case depends on various factors. Filing a claim with an asbestos trust fund is generally much faster than filing a personal injury case, but typically has a lower ceiling for compensation. Some personal injury cases can be settled privately outside of court, and this is usually faster than litigation. If your case must be resolved through litigation, this could take several months or even multiple years to complete.
Why Should I Hire a Mesothelioma Lawyer?
You should hire a mesothelioma lawyer because navigating your legal options efficiently would be very difficult without their help. Your attorney can determine whether you have grounds to file a claim to an asbestos trust fund, file a personal injury case against a specific defendant, or explore multiple legal options. You are more likely to secure appropriate compensation for this life-changing diagnosis with an attorney’s help.
What Does it Cost to Hire a Mesothelioma Lawyer?
The cost to hire a mesothelioma lawyer will only be a fraction of your total recovery if you choose Wallace & Graham, PA to represent you. Our firm accepts mesothelioma cases on a contingency fee basis, so whether you are filing a claim to an asbestos trust fund, building a personal injury case, or claiming compensation through multiple channels, we only charge a fee if we successfully recover compensation for you.
After you or a loved one is diagnosed with mesothelioma, you are likely to have many questions about asbestos trust funds vs. lawsuit settlements and the legal options available to you. The attorneys at Wallace & Graham, PA have decades of experience handling these cases, so contact us today and schedule your free, no-obligation consultation with our team. We can explain your legal options and how we can assist you with recovering compensation.
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