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

The difference between an asbestos trust fund and a lawsuit in South Carolina is that an asbestos trust fund is an agreement between a company and the affected individuals for a once-off payment to cover the expenses associated with asbestos exposure. It is a form of compensation that the company sets aside to pay victims of asbestos-related illnesses. On the other hand, a lawsuit is a legal action taken against a company that is alleged to have caused the asbestos exposure in the first place. In a lawsuit, the victims of asbestos-related illnesses will seek compensation for their injury and suffering. Asbestos trust funds are designed to be faster and easier than litigation, as well as more cost effective. The money awarded from an asbestos trust fund is not as much as a lawsuit could potentially yield, but the company is able to settle the matter quickly and avoid further legal action. Lawsuits, on the other hand, can take years to resolve and are usually more expensive. In a courtroom, the plaintiff will present evidence to the jury of the damages that they have suffered due to asbestos exposure. If the jury finds the company responsible, they can award damages to compensate the plaintiff for their injury and suffering. Overall, asbestos trust funds allow companies to settle claims quickly and easily while lawsuits can potentially yield larger payouts.

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

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