What is the Statute of Limitations on Filing for Asbestos Trust Fund Compensation?
In each state, there are statutes of limitations that limit the amount of time you have to file a lawsuit. For personal injury lawsuits, the statute of limitations clock begins as soon as you are diagnosed with an asbestos-related illness.
If a loved one has died of an asbestos-related illness, the clock begins on the day your loved one died. The statute of limitations applies for the trust fund claims as well although each trust fund was permitted to create their own time limit. In most instances, the statute of limitations is between one and three years to file a claim.
How Do Asbestos Trust Funds Work?
In some cases, companies with employees who were harmed by asbestos attempted to file Chapter 11 bankruptcy in order to get out of paying claims. Because Chapter 11 bankruptcy allows the company to remain open and reorganize their debts, the courts required that each company set up a trust fund for future asbestos injury claims.
If you have been diagnosed with an asbestos-related illness, such as mesothelioma, and your exposure was from a product manufactured by a company that was required to create a trust fund, you can file a claim. To do this, use your medical records and any documentation you have that you were exposed while using one of the products they manufactured.
Companies facing asbestos lawsuits often go into bankruptcy but victims can still receive compensation through an asbestos trust fund. If your claim is approved, you may receive a settlement check in just a few weeks. The average asbestos trust fund settlement is $180,000.
Factors that Impact the Statute of Limitations
There are factors that may impact whether your claim is within the statute of limitations. They include:
- Date of diagnosis – the date you received your diagnosis is critical to the statute of limitations
- Location of the company – it is possible you will have to file in the state where the company is located
- Severity of illness – in some cases, an extension may be granted based on the severity of the illness
- State where you live – each state has its own statute of limitations for wrongful death and personal injury lawsuits
- Type of claim – the time limit may be different for the trust fund than it is for a lawsuit
- When you were exposed – the start and end date of your exposure may have an impact on the time limit
- Where you were exposed – you may need to file your claim in the state where you were exposed, and that state could have a different statute of limitations than yours
Exposure to Asbestos
In most cases, when someone files a personal injury claim, they are aware of when they were injured. This is not usually the case with an asbestos-related illness.
It can take as long as 20 years for an asbestos-related illness to develop and, in the case of mesothelioma, there have been instances where the disease developed 60 years after exposure. This makes it difficult to track back to when the exposure caused the injury. For this reason, the courts have permitted those with asbestos-related injuries to seek compensation with a different statute of limitations.
Discovery Rule
In 1973, a case known as Borel v. Fibreboard addressed the problem those with asbestos-related illnesses have with traditional statutes of limitations. Because of the decision in this case, courts use the “discovery rule” for asbestos cases. What this means is that the statute of limitations begins when the illness is discovered, not when the exposure occurred.
If you have been diagnosed with an asbestos-related illness or a loved one has died of such an illness, arrange for a consultation with an attorney who has experience settling mesothelioma trust fund claims. They will be able to answer your questions about getting compensation.
