What is an asbestos trust fund?

An asbestos trust fund is a fund set up to help those injured by asbestos-related diseases and to pay for compensation to those sickened by asbestos exposure. These funds are created from companies that manufactured asbestos containing products. The trust funds are established to help victims of asbestos exposure get compensation for medical bills, lost wages, pain and suffering, and other expenses. In North Carolina, different trust funds have been established by various companies in order to cover the costs of asbestos-related claims. These trusts are designed to provide financial assistance to those who have been harmed by asbestos-related illnesses. Funds are typically distributed based on the severity of a person’s condition and their financial need. The trust funds are managed by a trustee, who is responsible for determining how to best use the money to benefit victims of asbestos exposure. They do this by considering a variety of factors, such as the size of the claim, the type and severity of the illness, the number of claimants, and the cost of medical treatments. Asbestos trust funds help to provide victims of asbestos-related illnesses with compensation and financial aid. They are an important resource for those affected by asbestos-related diseases. It is important to contact a lawyer in order to determine if compensation from a trust fund is available.

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