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What Are Asbestos Trust Funds?
When companies that manufactured or used asbestos products filed for bankruptcy, courts required them to create trust funds to compensate current and future asbestos disease victims. These trusts are funded with billions of dollars and continue to accept and pay claims today.
Over 60 asbestos bankruptcy trusts hold approximately $30 billion in combined assets. Each trust was established by a specific company (or group of companies) and compensates victims who were exposed to that company's asbestos-containing products. This means that a single patient may qualify for claims against many different trusts, depending on their exposure history.
Major Asbestos Trust Funds
| Trust Fund | Company | Assets | Meso Value | Payment % |
|---|---|---|---|---|
| Johns-Manville Trust | Johns-Manville Corporation | $2.5 billion+ | $62,000–$75,000 | 5.2% |
| Owens Corning/Fibreboard Trust | Owens Corning & Fibreboard Corporation | $3.4 billion+ | $55,000–$70,000 | 8.2% |
| USG Trust (United States Gypsum) | USG Corporation | $900 million+ | $45,000–$60,000 | 24% |
| W.R. Grace Trust | W.R. Grace & Co. | $3.0 billion+ | $80,000–$125,000 | 100% |
| Armstrong World Industries Trust | Armstrong World Industries | $1.8 billion+ | $40,000–$55,000 | 14% |
| Babcock & Wilcox Trust | Babcock & Wilcox Company | $1.2 billion+ | $35,000–$50,000 | 4.3% |
| Combustion Engineering Trust | Combustion Engineering (ABB) | $1.25 billion+ | $45,000–$65,000 | 17.5% |
| Celotex Trust | The Celotex Corporation | $1.4 billion+ | $30,000–$45,000 | 7.5% |
| Eagle-Picher Trust | Eagle-Picher Industries | $1.3 billion+ | $25,000–$40,000 | 3.5% |
| Harbison-Walker Trust | Harbison-Walker Refractories | $680 million+ | $25,000–$40,000 | 14.2% |
| Pittsburgh Corning Trust | Pittsburgh Corning Corporation | $3.5 billion+ | $55,000–$80,000 | 19% |
| Flintkote/Genstar Trust | The Flintkote Company | $575 million+ | $20,000–$35,000 | 12% |
| Federal-Mogul Trust | Federal-Mogul Corporation | $1.8 billion+ | $30,000–$45,000 | 7.7% |
| Halliburton/DII Trust | Halliburton (Dresser Industries) | $4.2 billion+ | $45,000–$70,000 | 11.5% |
| Garlock Sealing Trust | Garlock Sealing Technologies | $480 million+ | $35,000–$50,000 | 55% |
| NARCO Trust (North American Refractories) | North American Refractories Co. | $620 million+ | $20,000–$35,000 | 4.5% |
| Pfizer/Quigley Trust | Quigley Company (Pfizer subsidiary) | $965 million+ | $15,000–$25,000 | 2.5% |
| Kaiser Aluminum Trust | Kaiser Aluminum & Chemical Corp. | $415 million+ | $15,000–$25,000 | 3.3% |
| Thorpe Insulation Trust | Thorpe Insulation Company | $575 million+ | $10,000–$20,000 | 2.0% |
| Dana Companies Trust | Dana Incorporated | $950 million+ | $25,000–$40,000 | 8.5% |
Source: Trust distribution procedures, KCIC Asbestos Trust Transparency reports. Payment percentages are approximate and subject to periodic adjustment. Last verified: March 2026.
How Trust Fund Claims Work
Filing an asbestos trust fund claim is different from filing a lawsuit. Trust fund claims are administrative processes — no court filing or trial is required. Here's how the process typically works:
- Identify applicable trusts — Based on your exposure history, an attorney determines which trusts may owe you compensation.
- Gather documentation — Each trust requires proof of asbestos exposure linked to their products. This includes employment records, union records, co-worker affidavits, and medical records.
- File claims — Claims are submitted directly to each trust. Most trusts offer two review options: "expedited review" (faster, fixed payment) or "individual review" (slower, potentially higher payment).
- Receive payment — Processing typically takes 4 to 12 months. Mesothelioma claims often receive priority processing.
Trust Fund Payment Percentages
Each trust pays a percentage of its scheduled claim value. These percentages are adjusted periodically to ensure the trust can pay all current and future claimants. A 10% payment percentage on a $1,000,000 scheduled value means a $100,000 payment. Some trusts pay close to 100% of scheduled values, while others pay as low as 2-5%.
Even at reduced payment percentages, filing with multiple trusts can result in significant combined compensation. An experienced mesothelioma attorney knows which trusts pay the most and how to document claims for maximum value.
Frequently Asked Questions
What are asbestos trust funds?
Asbestos trust funds are financial trusts created by companies that filed for bankruptcy due to asbestos-related liabilities. Courts required these companies to set aside money to compensate current and future asbestos disease victims. Over 60 trusts hold approximately $30 billion in combined assets. Each trust has its own filing procedures, documentation requirements, and payment schedules.
How much can I receive from asbestos trust funds?
The amount varies by trust and disease type. For mesothelioma claims, individual trust payouts typically range from $10,000 to $125,000 per trust. Since most patients qualify for multiple trusts, combined payouts can range from $50,000 to $400,000 or more. Payment amounts depend on the trust's current payment percentage, your disease category, and the strength of your exposure evidence.
Can I file trust fund claims and a lawsuit at the same time?
Yes. Trust fund claims and lawsuits are separate legal processes. Trust fund claims are filed directly with bankruptcy trusts and do not require a court filing or trial. Lawsuits are filed against companies that have not filed for bankruptcy. Most mesothelioma attorneys pursue both avenues simultaneously to maximize total compensation.
How long does it take to receive trust fund payments?
Most asbestos trusts process claims within 4 to 12 months. Some trusts offer an "expedited review" option with faster processing and a fixed payment amount, while "individual review" takes longer but may result in a higher payment. Mesothelioma claims often receive priority processing due to the severity of the disease.
Do I need a lawyer to file asbestos trust fund claims?
While you can technically file trust fund claims on your own, an experienced mesothelioma attorney significantly improves outcomes. Attorneys know which trusts apply to your exposure history, have established relationships with trust administrators, and handle the extensive documentation requirements. They work on contingency — no payment unless you receive compensation.