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Asbestos Settlements and Verdicts Financial compensation may be available for you or a person close to you has been diagnosed with a disease that is related to asbestos. Victims can receive compensation through settlements or trial verdicts. Compensation amounts vary, depending on a variety of factors. A mesothelioma attorney with experience can determine the potential payout for the particular case. Asbestos Trust Funds Asbestos trust funds are a crucial source for those suffering from asbestos-related diseases. These funds hold money from companies which have declared bankruptcy because of asbestos-related liabilities. Trust funds differ from lawsuits which can be filed against companies who have not filed for bankruptcy. A lawsuit is a more complicated procedure than trust fund claims because the jury or judge must decide if an asbestos-related company is responsible for your condition. Your lawyer may also argue in court that the defendant must pay you an amount that is higher. However asbestos lawsuits aren't appropriate for everyone. Some people do not want to go through the process of litigation and prefer to trust fund compensation. Each asbestos trust fund has their own rules and regulations for how they process and evaluate claims. Some have central processing partners that handle various aspects of a claim which can make it easier and speed up the process. Tallahassee asbestos lawsuits are familiar with every asbestos trust fund and can help you choose the best one for your particular situation. When filing with an asbestos trust, you will have to submit documents and evidence that prove your exposure to asbestos. This includes employment records or military service records, as well as full medical records, including mesothelioma diagnoses from your doctor. It is recommended that you work with an experienced mesothelioma lawyer to ensure all necessary documents are filed in a timely manner and on time to avoid a delay in the process of evaluating your claim. Some asbestos trusts offer speedy review, which allows you to settle claims quicker and with a set payout value. Individual reviews on the other hand will take a deeper review of your claim and the evidence you have presented. Individual reviews also provide you with the opportunity to discuss your case with your attorney, which is not possible with an expedited review. In the past, asbestos trusts have provided billions of settlements and awards for mesothelioma patients. Compensation awarded from these trusts has helped victims and their families with treatment expenses, lost income and other costs associated with their asbestos illness. Bankruptcy Trust Funds When asbestos companies filed for bankruptcy, the courts ordered them to put aside money to compensate victims for their past exposure. Since the late 1980s asbestos trust funds have paid more than $20 billion in compensation to victims. This includes more than $15 billion in the period from 2006 to 2012. The funds aid victims with medical bills, lost wages and other expenses. An experienced mesothelioma lawyer can determine which mesothelioma trust victims are eligible to file a claim with and assist prepare and submit all necessary documentation. Asbestos trust fund claims are handled by third-party trustees, who are not directly connected to the companies that are being the subject of the lawsuit. This helps ensure that trusts do not deplete too fast. In recent years, a few states have started to regulate asbestos trusts and require trusts to share information with plaintiffs and their lawyers. The amount of compensation a Trust pays could be lower than the amount of a mesothelioma verdict case, since the courts aren't required to take into account punitive damages in addition to compensatory damages. Trusts are the quickest method to get mesothelioma compensation. Trust fund claims must be filed within the timeframes of limitations, which differ for each trust and begin ticking on the date of diagnosis or death from an asbestos-related illness. In the majority of cases, filing a claim within two or three years of a mesothelioma diagnoses or death is required. Asbestos trusts provide two review options for victims including an expedited review and an individual review. The expedited process offers a fixed payment value to the victim and typically takes 90 days or less. The individual review entails an examination of the evidence and can take longer. After the review the trust can begin the process of liquidation which will determine how much the claim is worth. The money is then distributed to the victim. If you've received an expedited review payment, the trustee will usually not alter the predetermined monetary value, however, your mesothelioma attorney may negotiate with the trustee over other aspects of your case. Court Settlements Asbestos victims typically have lawsuits filed to recover compensation from the companies responsible for their exposure. Compensation can cover medical bills and lost wages. The amount of compensation that a person gets is contingent upon the severity of their illness as well as how long they have lived with it. The typical asbestos settlement or verdict ranges between $1 million to $1.4 million. Lawsuits require a lengthy legal process that can take several months to complete. During this period each side will gather evidence and documents to back their case. This phase of litigation is known as discovery and may involve depositions or interviews with witnesses. The legal teams could uncover evidence that the defendants were aware of asbestos dangers and concealed the information from their employees. The average settlement for mesothelioma is 90 days, however it can take longer if the case needs to be fought. The families of the victims must be patient during this process as an experienced attorney will do everything to secure the financial compensation they need as fast as is possible. Asbestos lawyers know how to assess the specific situation of each victim and determine the best compensation amounts for their specific requirements. The attorneys will consider medical expenses and treatment costs during negotiations to ensure that the victims have enough money to pay their bills. They will also consider how mesothelioma impacts the quality of life of a person and their family. Keep the track of all medical expenses related to mesothelioma treatment. The more evidence a victim can provide, the higher their chances of receiving higher compensation. A lawyer can assist victims and their families collect and submit these documents to the asbestos trust fund or the courts. A victim's status as a parent or spouse can also affect the amount of settlement. In these situations the court will usually award a larger sum to compensate the family member for the loss of their parent or spouse's support and guidance. Settlements and verdicts for mesothelioma can vary from one state to another. An asbestos lawyer with experience will make sure to prepare an argument that is strong and will maximize the amount of compensation victims and their families receive. Verdicts A verdict is the legal conclusion of fact reached by a judge or jury at the conclusion of a trial. A jury verdict in a case involving asbestos is based on a variety of factors which can include the extent of your mesothelioma illness, the companies involved, the law of the state and more. The amount of the verdict could be used to determine the amount of a settlement for asbestos. However an experienced mesothelioma lawyer won't reveal the amount they believe your case is worth since there are many variables that make it difficult to determine a dollar figure. Instead, a skilled mesothelioma lawyer will use his or her experience negotiating settlements to help clients comprehend what their cases could be worth. A knowledgeable asbestos lawyer will also provide you with guidance on how best to pursue an asbestos lawsuit. A lawsuit against the company at fault is a legally binding contract that requires compensation for victims who have suffered financial losses due to their asbestos exposure. Settlements for asbestos victims can be significant and the compensation they receive could be used to pay for medical bills and living expenses. Compensation may also cover the pain and suffering as well as loss of consortium and emotional stress due to the illness. In a majority of cases of mesothelioma, the victims will file a suit against a variety of companies that exposed them to asbestos. Many of these companies went bankrupt because of asbestos litigation, however they were required to establish trust funds to pay compensation to injured victims. Trusts are utilized to settle claims without the need for expensive and lengthy court processes. Mesothelioma lawyers can negotiate with these trusts to secure fair and equitable payouts for their clients. In certain cases trials are the most efficient method to settle a dispute. A successful trial can convey a powerful message to companies who prioritize profits over the health and safety of workers and military personnel who are exposed to asbestos. This can motivate many asbestos producers to settle with asbestos victims prior to trial to avoid negative publicity and expensive litigation. A winning verdict at trial can also help victims receive maximum compensation for their injuries.