Asbestos Trust Funds
Asbestos trust funds were created during bankruptcy proceedings to compensate people harmed by a company’s asbestos products. Claims are handled outside the court system, so you may be able to receive compensation from an asbestos trust fund without having to file an asbestos lawsuit. Oslund Udo Little can investigate your exposure history and determine which trust funds might be applicable to you.
Brendan Little, Partner, Oslund Udo Little Last Updated: September 16, 2026
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What Is an Asbestos Trust Fund?
How Many Asbestos Trust Funds Exist, and Which Ones Apply to Pacific Northwest Workers?
How Do Asbestos Trust Funds Work?
Who Can File an Asbestos Trust Fund Claim?
How to File an Asbestos Trust Fund Claim: Step-by-Step Process
Can You File an Asbestos Trust Fund Claim and a Mesothelioma Lawsuit at the Same Time?
How Our Asbestos Lawyers Help You Find and File the Right Trust Claims
What Is an Asbestos Trust Fund?
An asbestos trust fund holds money for people who have been diagnosed with mesothelioma or another illness linked to a bankrupt company’s asbestos products or operations. Instead of suing the reorganized company, eligible claimants submit evidence of their illness and exposure directly to the trust fund for review.
Why Do Asbestos Trust Funds Exist?
As asbestos claims increased during the 1980s and 1990s, many manufacturers and suppliers sought Chapter 11 bankruptcy protection. Section 524(g) of the U.S. Bankruptcy Code allows a qualifying company to establish a trust for current and future claims. This is especially important because asbestos-related illnesses can take decades to develop. The trust preserves a source of compensation for people who become sick long after the company’s bankruptcy has ended. Compared with a lawsuit, the claims process is generally more structured and requires fewer court proceedings.
How Many Asbestos Trust Funds Exist, and Which Ones Apply to Pacific Northwest Workers?
As of 2026, more than 60 asbestos trust funds remain active nationwide, with an estimated $30 billion available for current and future claims. Oregon and Washington workers are not limited to trusts created by companies based in the Pacific Northwest. Eligibility depends on which asbestos products and job sites contributed to a person’s exposure. Because many workers encountered products from several manufacturers, you could qualify for multiple trusts and can file with more than one trust at a time.
- Western Asbestos Company: Western Asbestos had connections in the Pacific Northwest and established a trust after facing numerous asbestos-related lawsuits.
- W.R. Grace & Co.: While W.R. Grace is a national company, its operations in Libby, Montana, had a significant impact on the Pacific Northwest, particularly due to the vermiculite mine, which was contaminated with asbestos. The W.R. Grace Trust is one of the more well-known trusts related to asbestos exposure.
- Kaiser Aluminum: with operations in the Pacific Northwest, Kaiser Aluminum established a trust to deal with asbestos-related claims.
- Owens Corning/Fibreboard: This company had several operations in the Pacific Northwest and has an established trust to deal with asbestos claims.
- J.T. Thorpe: While J.T. Thorpe primarily operated in California, they had connections in the broader Pacific Northwest region and established an asbestos trust.
- Armstrong World Industries: Armstrong, a nationwide company, had ties in the Pacific Northwest and has set up an asbestos trust.
- E.J. Bartells: With ties in the Pacific Northwest, this company faced numerous asbestos-related lawsuits and has a trust in place.
- Bondex: Bondex International Inc. has established an asbestos trust fund following its asbestos-related liabilities.
- DII Industries: DII Industries, LLC Asbestos PI Trust was established due to the company's asbestos-related legal claims.
- Federal-Mogul Corp: The Federal-Mogul Asbestos Personal Injury Trust was created after the company filed for bankruptcy due to asbestos-related liabilities.
- Flexitallic: Flexitallic has an established asbestos trust known as the FMI T&N Asbestos Trust.
- Johns-Manville Corporation: One of the most well-known asbestos manufacturers, Johns-Manville was one of the first to establish an asbestos trust called the Manville Personal Injury Settlement Trust.
- Pittsburgh Corning Corp.: The Pittsburgh Corning Asbestos Personal Injury Settlement Trust was set up due to the company's asbestos liabilities.
- Turner & Newell: This company is associated with Federal-Mogul holdings and is covered by the Federal-Mogul Asbestos Personal Injury Trust.
- United States Gypsum (USG): The USG Asbestos Personal Injury Settlement Trust was established following USG's asbestos-related legal claims.
The complexities of asbestos trust funds can be daunting. Each trust has its own unique filing criteria, deadlines, and compensation structures. At Oslund Udo Little, we have a dedicated team of paralegals who focus exclusively on pursuing bankruptcy trust claims. Don’t miss out on compensation you may be entitled to. Contact our experienced asbestos attorneys at our mesothelioma law firm if you or a loved one is considering filing a claim. We’re here to help you address every detail of your claim to give you the best chance of success.
How Long Do You Have to File an Asbestos Trust Fund Claim in Washington or Oregon?
Each asbestos trust fund determines its own filing rules, and some consider whether you could still bring a lawsuit under the law in your state. The statute of limitations in your state will determine whether or not you can pursue a lawsuit for asbestos exposure.
- Oregon: Two years from the date you discovered, or reasonably should have discovered, the connection between the illness and asbestos exposure.
- Washington: Three years to bring a personal injury action.
These statutes do not create one universal deadline for trust fund claims. Oslund Udo Little’s mesothelioma attorneys in Washington and Oregon can review your diagnosis and exposure history against the rules of each relevant trust to determine which claims might still be available.
How Do Asbestos Trust Funds Work?
If you or a loved one are eligible to file an asbestos claim, you can submit a claim to an asbestos trust fund created by the company responsible for your asbestos exposure. If you can show that they were exposed to the company’s product or if you worked at an approved jobsite where the product has been shown to be used and developed an illness from that exposure, the trust fund will provide financial compensation. You can then use the funds to pay medical, out-of-pocket, and other fees.
Can You File A Claim With More Than One Asbestos Trust Fund?
Yes. Many workers encountered asbestos products made by several companies over the course of their careers. If your exposure history meets the requirements for multiple trusts, you could file a claim with each one. An asbestos lawsuit might also be available against companies that have not filed for bankruptcy.
Who Can File an Asbestos Trust Fund Claim?
Eligibility depends on the requirements of the individual trust. In most cases, you must provide:
- A qualifying diagnosis, such as mesothelioma or asbestos-related lung cancer
- Evidence of asbestos exposure, including employment records, witness statements, or proof that you worked at an approved job site at the time the products were used
- A connection to the responsible company or proof of exposure to one of its asbestos-containing products
If your loved one has passed away from an asbestos-related illness, a family member or estate representative could still be eligible to file a claim with the trust fund. You don’t need to have every employment record or product name before speaking with an attorney. They can investigate where the exposure occurred and determine which trusts apply.
What Asbestos Illnesses Can You File an Asbestos Trust Fund Claim For?
Most people file asbestos trust fund claims for mesothelioma and asbestos lung cancer, but those are not the only illnesses you can claim. Here is a list of the asbestos-related illnesses for which you can file an asbestos trust fund claim:
- Mesothelioma
- Asbestos lung cancer
- Asbestosis
How to File an Asbestos Trust Fund Claim: Step-by-Step Process
Filing begins with identifying which bankrupt companies contributed to your asbestos exposure. The claim must then connect your diagnosis to a product, job site, or employer covered by each trust. Every trust has its own forms and evidence requirements, but the process generally follows four steps:
- Contact Oslund Udo Little: Contact our seasoned attorneys first. We’ll assess your eligibility for an asbestos trust fund claim or suggest alternative compensation avenues like Veterans Affairs benefits or lawsuits.
- Collect Evidence: With our guidance, amass vital evidence such as job records indicating asbestos exposure, witness testimonies, product details, and medical reports confirming your asbestos illness.
- Submit Your Claim: Asbestos trust funds have distinct filing deadlines. Our team ensures timely claim submissions, adhering to each trust’s requirements.
- Await Compensation: After your claim’s review, you’ll receive your payout from the trust fund. Though compensation times vary, most claims get settled within months. Note that due to the bankruptcy status of these firms, trust fund payouts might be lesser than potential lawsuit awards.
Can You File an Asbestos Trust Fund Claim and a Mesothelioma Lawsuit at the Same Time?
Yes. Because several businesses might have contributed to a person’s asbestos exposure, compensation could be available through more than one legal avenue.
- Trust fund claim: Provides payment on behalf of bankrupt asbestos companies.
- Mesothelioma lawsuit: Seeks to hold businesses that remain liable accountable in court.
Pursuing both requires careful coordination. Information provided to a trust should align with the evidence presented in the lawsuit, and money received from a trust could affect recovery from other defendants. A mesothelioma attorney can piece together your work and exposure history, determine where compensation is available, and build a strategy that accounts for every responsible business.
How Our Asbestos Lawyers Help You Find and File the Right Trust Claims
Most people don’t know which company’s products exposed them to asbestos, or which trust fund to file with. That’s where our attorneys come in. We review your records to identify the companies involved. Then, we handle the paperwork and supporting evidence for each eligible trust.
Oslund Udo Little has represented people with asbestos-related illnesses in Washington and Oregon since 1995, recovering more than $1 billion on their behalf. Contact us online for a free consultation or call 206-957-9510 to discuss your options.
Frequently Asked Questions About Asbestos Trust Funds
What Is the Average Payout for an Asbestos Trust Fund Claim?
There is no average payout since the settlement or verdict results depend on the trust, diagnosis, exposure evidence, review method, and current payment percentage. Filing with several trusts could increase the total compensation received.
How Long Does It Take to Get Paid From an Asbestos Trust Fund?
A complete claim could be reviewed and paid within a few months. Claims that require individual review or additional evidence generally take longer.
Are Asbestos Trust Fund Payouts Taxable?
Compensation for a physical injury or illness is generally excluded from federal taxable income. Other portions of an award could be taxable, so ask a tax professional about your specific payment.
How Much Money Is Left in Active Asbestos Trust Funds?
As of 2026, industry estimates place the amount remaining in active asbestos trusts at more than $30 billion. Trusts preserve these funds by adjusting the percentage paid on approved claims. These funds are intended to last in perpetuity and cover all claims for current and future claimants.
Does Filing an Asbestos Trust Fund Claim Affect My VA Benefits?
A trust fund payment generally does not reduce service-connected VA disability compensation. It could affect income-based benefits, including a VA pension, so veterans should review their benefit type before accepting payment.
Can I File a Lawsuit if I Have Already Received Money From a Trust Fund?
Receiving trust fund compensation does not prevent you from filing a lawsuit against other companies responsible for your exposure. Previous trust payments could affect the amount recovered through the lawsuit.
What if the Diagnosed Person Passed Away? Can I Still File an Asbestos Trust Claim?
Yes. The estate’s personal representative or an eligible family member could file, depending on the trust’s rules. Medical records and evidence connecting the person’s asbestos exposure to the bankrupt company will still be required.
What Is an Asbestos Trust Fund?
How Many Asbestos Trust Funds Exist, and Which Ones Apply to Pacific Northwest Workers?
How Do Asbestos Trust Funds Work?
Who Can File an Asbestos Trust Fund Claim?
How to File an Asbestos Trust Fund Claim: Step-by-Step Process
Can You File an Asbestos Trust Fund Claim and a Mesothelioma Lawsuit at the Same Time?
How Our Asbestos Lawyers Help You Find and File the Right Trust Claims
