For decades, asbestos exposure has caused devastating illnesses—including mesothelioma, lung cancer, and asbestosis—among workers, veterans, and consumers across the United States. As litigation mounted against manufacturers and distributors of asbestos-containing products, many companies filed for bankruptcy. To ensure future victims could still receive compensation, courts required these companies to establish asbestos trust funds.
Today, more than 60 active asbestos trust funds exist, collectively holding billions of dollars for eligible claimants. Understanding how these funds operate, who qualifies, and what payout levels to expect is essential for families seeking justice.
What Are Asbestos Trust Funds?
Asbestos trust funds are court-supervised financial reserves created during bankruptcy proceedings. Their purpose is to compensate individuals harmed by asbestos exposure linked to the bankrupt company’s products or operations. These trusts are governed by trustees and operate under strict guidelines to ensure fair and consistent payouts.
Each trust is independent, with its own:
- Eligibility criteria
- Documentation requirements
- Review procedures (expedited vs. individual)
- Payment percentage (portion of full claim value paid)
Claimants may file with multiple trusts if they were exposed to products from different companies.
How Payouts Are Calculated
Trust fund payouts are not fixed settlements. Instead, each trust assigns a “scheduled value” to specific diseases (e.g., mesothelioma, lung cancer, asbestosis) and then applies a payment percentage to preserve assets for future claims.
For example:
- A trust may assign $100,000 to a mesothelioma claim
- If its payment percentage is 25%, the claimant receives $25,000
- Payment percentages vary widely—from 1% to over 35%—depending on the trust’s funding level and claim volume
Claimants may choose expedited review (faster, fixed payout) or individual review (slower, potentially higher payout based on severity and economic loss).
Comprehensive List of Asbestos Trust Funds and Payouts
Below is a list of active asbestos trust funds, their state of origin, and estimated payout potential. These figures reflect publicly available data and may fluctuate based on annual trust reports.
| Trust Fund Name | State of Origin | Estimated Assets / Payout Potential |
|---|---|---|
| Johns-Manville Corporation Trust | Colorado | $2.5 Billion |
| W.R. Grace & Co. Trust | Maryland | $2.978 Billion |
| Owens Corning / Fibreboard Trust | Ohio | $1.2 Billion |
| United States Gypsum (USG) Trust | Illinois | $3.9 Billion |
| Armstrong World Industries Trust | Pennsylvania | $2.0 Billion |
| Babcock & Wilcox Trust | Ohio | $1.8 Billion |
| Pittsburgh Corning Corporation Trust | Pennsylvania | $3.4 Billion |
| DII Industries (Halliburton) Trust | Texas | $2.5 Billion |
| Quigley Company Trust | New York | $596 Million |
| Western Asbestos Settlement Trust | California | $2.0 Billion |
| Kaiser Aluminum & Chemical Trust | California | $1.1 Billion |
| Thorpe Insulation Company Trust | California | $600 Million |
| Plant Insulation Company Trust | California | $200 Million |
| Raytech Corporation Trust | Connecticut | $300 Million |
| Bondex International Trust | Ohio | $700 Million |
| Celotex Corporation Trust | Florida | $1.5 Billion |
| Eagle-Picher Industries Trust | Ohio | $1.0 Billion |
| G-I Holdings (GAF) Trust | New Jersey | $770 Million |
| H.K. Porter Company Trust | Pennsylvania | $100 Million |
| ACandS Inc. Trust | Pennsylvania | $528 Million |
| T H Agriculture & Nutrition Trust | New York | $900 Million |
| Turner & Newall Trust | Michigan | $1.0 Billion |
| National Gypsum Trust | Texas | $1.2 Billion |
| Flexitallic Inc. Trust | Texas | $200 Million |
| Flintkote Company Trust | California | $214 Million |
| North American Refractories Company (NARCO) | Ohio | $6.32 Billion |
| Specialty Products Holding Corp. (SPHC) Trust | Ohio | $1.0 Billion |
| Hercules Chemical Company Trust | New Jersey | $100 Million |
| Tenneco Inc. Trust | Illinois | $500 Million |
| Standard Insulation Company Trust | California | $150 Million |
| United Gilsonite Laboratories Trust | Pennsylvania | $50 Million |
Filing a Claim: What to Expect
The process of filing with asbestos trust funds typically includes:
- Medical documentation confirming diagnosis (e.g., pathology reports, imaging studies)
- Exposure history, including employment records, military service, or product identification
- Trust identification, matching exposure to specific bankrupt entities
- Claim submission, with supporting evidence and review selection
- Trust review, which may take 2–6 months depending on the review type
- Payment disbursement, typically 1–3 months after approval
Most claims are resolved within 4–12 months, though complex cases may take longer.
Strategic Considerations
To maximize compensation and streamline the process:
- File with multiple trusts simultaneously
- Choose expedited review for straightforward cases
- Use individual review for high-value or complex claims
- Work with an experienced asbestos attorney to ensure accuracy and eligibility
- Preserve all medical and employment documentation early
At The Law Office of Melinda J. Helbock, A.P.C., we tailor trust fund strategies to each client’s exposure history, diagnosis, and financial needs.
Contact Us
If you or a loved one has been diagnosed with mesothelioma, lung cancer, or another asbestos-related illness, you may be eligible for compensation through one or more asbestos trust funds. The Law Office of Melinda J. Helbock, A.P.C. offers confidential consultations, forensic case review, and survivor-centered advocacy to help you navigate the claims process and secure the restitution you deserve.
References
- Sokolove Law. (2025). List of Asbestos Trust Fund Payouts. https://www.sokolovelaw.com/mesothelioma/legal/asbestos-trust-funds/
- Simmons Hanly Conroy. (2025). Asbestos Trust Fund List & Mesothelioma Fund Claim Payouts. https://www.simmonsfirm.com/mesothelioma/asbestos-trust-funds/
- StateRecords.org. . (2025). Asbestos Trust Funds Overview. https://staterecords.org/asbestos-trust-funds
- United States Courts. (2025). Bankruptcy and asbestos trust fund administration. https://www.uscourts.gov/services-forms/bankruptcy
- Mesothelioma Fund. (2025). Asbestos trust fund payouts: Payout timelines & amounts. https://www.mesotheliomafund.com/asbestos-trusts/how-much-can-you-receive/
