How Long Do Asbestos Claim Payouts Take?
Asbestos victims deserve compensation for their illnesses, but the process can be long. An asbestos lawyer can help victims get the highest payouts possible in the shortest time.
There are several variables that can impact the time it takes for an asbestos claim to be paid out. They include:
Time in Court
After an asbestos-related victim file suit, defendants have a limited time to respond. The defendant can deny the claim by arguing that their product did not contain asbestos or that they were negligent with regards to their exposure. The court will decide the amount of evidence plaintiff's lawyer has presented to support his argument. This could take weeks or months.
A good lawyer knows what documents to collect to file a successful claim for mesothelioma. This includes any documents from the defendant companies concerning the asbestos products that were employed on their premises and how long the victim was exposed to asbestos-based products. The more comprehensive the evidence, then more likely you are of winning and receiving compensation.
Another vital aspect of any asbestos claim whether it's mesothelioma or another form of asbestos disease, is the medical proof that proves exposure to asbestos and the subsequent disease. This evidence must contain an assessment of the disease caused by asbestos exposure. The applicant will not be able to receive compensation from asbestos trust fund or a jury verdict in a personal injury lawsuit, or wrongful death suit.
During this process the attorneys will prepare documents regarding their client's asbestos exposure history and any Workers' Compensation or VA benefits they have received. A medical specialist will review the information to determine if there is an association between the asbestos exposure and the disease. This can be a challenge because many victims don't know their diagnosis until it is too late.
If there is a settlement reached it will be written. The attorneys will go over the agreement to ensure it is fair and acceptable to their client. They may ask for an extension of time to look over the agreement if they are not sure about the agreement. An experienced mesothelioma lawyer can assist with negotiating the best possible settlement and minimize the legal fees.
If the case cannot be resolved through mediation or arbitration the case will go to trial. This is a lengthy process than a settlement, and requires the jury. In this situation defendants are more likely to lose and could attempt to minimize their losses. This is why a mesothelioma lawyer will recommend that their clients settle rather than go to trial.
Amount of Money Received
The amount of money that an asbestos lawsuit that is successful will bring depends on whether or not the person who is claiming or their family decides to file a lawsuit, or if they decide to submit a claim to an asbestos victims trust fund. Asbestos lawyers work to obtain the most profitable financial outcome for their clients, regardless of whether that is a settlement or a jury trial. The majority of defendant companies do not settle in court due to the fact that they don't want endure the expense and negative publicity that a trial by jury could cause.
If a victim or his or her family decides to start a lawsuit against an asbestos-related company, the attorneys prepare the documents and submit them to the court. Then, the attorney files it with an attorney for a judge to review.
A mesothelioma lawyer will examine all the evidence to determine if an out of court settlement or a lawsuit could be the best option for their client. Usually, out-of-court settlements are less expensive and take longer for all parties involved than a trial.
Asbestos trusts are created by asbestos manufacturers to protect mesothelioma, asbestos-related diseases and other illnesses. Each asbestos trust has its own rules regarding eligibility, but all have two types of reviews: expedited review and individual review. Expedited reviews group claims together to process them quickly, with a fixed payment and individual reviews evaluate each case on its merits and produce an increased payout in certain cases.
The type of asbestos lawyers-related illness can also impact the amount of compensation. The trustees who are in charge of asbestos trusts have assessed the severity of some diseases. This aids them in calculating the compensation that each victim will receive.
The liquidation percentage that the asbestos trust fund has in place at the time of claim submission could play a part in the amount that is paid to the victim. The percentage could differ between asbestos trusts, but it could range from 1 percent to 100 percent of the value of the claim.
Expenses Associated with a Claim
The financial award received from an asbestos lawsuit could help victims pay medical expenses resulting from their diagnosis of mesothelioma or lung cancer, or both. It could also help pay for expenses that insurance will not pay for, such as travel costs, home health aides or complementary therapies. It is important to think about all related costs prior to accepting a settlement offer.
Compensation can also cover funeral costs for loved ones who have passed away from mesothelioma, or any other asbestos-related illness. This is a major expense that can quickly add up and often causes more stress and anxiety for families.
Asbestos lawsuits can also compensate families for the psychological and emotional trauma of losing a loved one to an asbestos-related illness. A mesothelioma attorney can review the individual circumstances of a person who suffers from asbestos to determine how much money they should receive in their settlement or verdict.
Lawyers could uncover evidence of negligence by defendant companies during pre-trial discovery or depositions. For example, they could discover documents that show that a company knew about the dangers of asbestos, but exposed its workers to it anyway. This can be a strong argument in a case and lead more settlements.
The type of asbestos-related disease and the severity of the disease can affect the amount a victim receives in their settlement. Pleural mesothelioma, for example is the most common asbestos-related disease that results in the largest payouts. Other conditions, such as Pleural effusions or plaques pleural, are less severe and usually result in smaller awards.
When a person is awarded compensation from an asbestos trust fund, it may take several months before they see the funds in their account. The first portion of the settlement goes to any personal liens which are medical or government payments that have to be made from the settlement. An attorney for mesothelioma can negotiate these liens in order to ensure that their clients receive as much as possible of the settlement.
During the trial process it is crucial for victims to keep track of all the medical costs and expenses they pay. The victim can then provide the information to their lawyer to aid them in negotiating the best settlement.
Amount of Time It Takes to Settle a Claim
In many cases, a mesothelioma lawsuit is settled with a settlement between the plaintiff and the defendant. It could take anywhere from 18 months to a full year for attorneys on both sides of the lawsuit to reach an agreement on the terms of a settlement. If a defendant is unwilling to negotiate, the case may be referred to trial. Trials are longer than settlements.
During the trial the lawyers present evidence to prove that the victim was injured through asbestos exposure. The jury will decide on the amount of responsibility each defendant is responsible for. The defendants must compensate victims for their negligence. In the case of joint and multiple liability, victims may receive compensation from multiple defendants.
The complexity of a lawsuit will determine the amount of time required to settle the claim. A lawsuit can usually be settled quickly with the proper evidence. This is especially true when there are several defendants and an attorney is able to demonstrate that all of them were responsible for the victim's exposure.
Even if the statute of limitation has expired, victims may still be able to claim compensation through asbestos bankruptcy trusts. These trusts are created to compensate victims who worked for companies that went into bankruptcy due to asbestos exposure. Compensation amounts are calculated based on the compensation percentages paid by the bankruptcy trust to other victims in similar situations.
The time required to reach an agreement can also be contingent on how quickly judges can decide on a case. Judges can often determine the winner without trial through a motion or ordering a summary judgment. It typically takes at least three months for the judge to make a decision through a motion.
It's important to work with an attorney for mesothelioma as quickly as possible. They can assist their clients avoid penalties or delays that may occur because of the statute of limitations. They can also help clients get the appropriate funds before it's too late to bring a lawsuit against the asbestos companies that knowingly exposed the employees to hazardous substances.