What is the difference between an asbestos trust fund and a lawsuit?

An asbestos trust fund is a fund that is set up by the companies that used to make asbestos-containing products in order to pay out money to people who have suffered from asbestos-related illnesses. This money is paid out from the trust fund, and is separate from the company’s other assets, so it cannot be claimed by anyone else. A lawsuit involves filing a legal claim against the company responsible for the exposure to asbestos in order to seek compensation for damages. The claim is typically decided in court, and the decision is legally binding. The primary difference between an asbestos trust fund and a lawsuit is that the trust fund is set up voluntarily by the companies that formerly used asbestos and the money is distributed by the trust, while a lawsuit is filed by the plaintiff against the company that exposed them to asbestos. The trust fund is typically funded by the company’s assets, while the lawsuit requires the company to pay out financial compensation. The trust fund is an alternative to the traditional legal process, and provides compensation without requiring the plaintiff to go to court. However, the trust fund pays out less money than a traditional lawsuit, so it is not always the best option.

Related FAQs

What kind of medical tests are performed on patients filing asbestos-related claims?
What types of information should I provide to an asbestos-related attorney?
What is the average cost of an asbestos-related lawsuit?
What is the average length of time from initial exposure to the onset of symptoms?
What are the different types of asbestos-related diseases?
Are there any state laws that protect victims of asbestos-related illnesses?
Are there any costs associated with an asbestos trust fund?
What is the statute of limitations for filing an asbestos-related lawsuit?
Are there any costs associated with filing an asbestos-related lawsuit?
What is the average cost of an asbestos-related medical examination?

What is the difference between an asbestos trust fund and a lawsuit?

Related FAQs

Related Blog Posts