How Much Is Your Mesothelioma Case Worth?
Determining the value of your mesothelioma case is complicated because of the two-track system for compensation in asbestos litigation and the many factors that influence how compensation is awarded. Factors such as the patient’s diagnosis, work history and the types of asbestos products to which they were exposed can impact the value of a mesothelioma case.
Lawsuits and trust fund claims are the two primary avenues for seeking compensation. Many mesothelioma patients are eligible for both tracks, while some are only eligible for one. An experienced mesothelioma lawyer has the expertise to determine whether you can pursue multiple sources of compensation.
Be wary of lawyers who says they can guarantee you a certain amount of compensation. Asbestos litigation is complex, and lawyers can’t predict the exact value of a case in advance. It’s best to work with an experienced mesothelioma law firm that has a strong record of success to make sure you get the compensation you deserve.
Factors Affecting Mesothelioma Case Value
Many different factors influence how much your case might be worth, including the types of legal claims you file and the unique variables involved in your individual case.
Lawsuits and trust fund claims may be filed at different times or simultaneously. Filing both types may increase the overall case value.
It’s common for mesothelioma patients to have past exposure to multiple asbestos products made by different manufacturers, which means many patients are eligible to file more than one type of claim.
In 2022, the family of a deceased truck driver filed a suit against multiple companies responsible for the asbestos exposure that led to his death, including Ford Motor Company.
Mesothelioma Case Value by Type of Legal Option
Mesothelioma compensation amounts can vary depending upon how your legal options are handled. Compensation may come in the form of a settlement, trial verdict or trust fund recovery.
- Settlements: Most mesothelioma lawsuits are resolved with a settlement, which are typically kept private. However, a 2016 Mealey’s Litigation Report provided examples of settlement ranges between $1 million and $2 million.
- Verdicts: A small handful of mesothelioma lawsuits make it to trial, which may result in a large verdict. A 2015 Mealey’s report provided examples of verdicts reaching up to $4.97 million.
- Trust Funds: While the individual payouts from trust funds is much less compared to settlements and verdicts, filing claims with multiple trusts may add up to a significant amount. In 2015, Mealey’s reported the highest trust fund recovery for a single mesothelioma plaintiff who filed claims with 30 trust funds and received a total of $662,000.
Many mesothelioma claimants are eligible to receive compensation from traditional lawsuits and trust fund claims. For example, a 2017 Mealey’s Litigation Report reported a mesothelioma claimant’s average combined case value in the Garlock bankruptcy case at $1 million to $1.5 million. This included an “average of $560,000 in tort recoveries and about $600,000 from 22 trusts.”
Every state has laws governing when and how to file asbestos claims to ensure no one abuses the legal system and to preserve compensation for future asbestos victims. Experienced mesothelioma lawyers know how to properly handle the two-track system of compensation to maximize your recovery.
Other Factors Determining Your Mesothelioma Case Value
- Type of mesothelioma diagnosis
- Stage and severity of your diagnosis
- Age and personal medical history
- Lost wages
- Medical expenses
- Other related expenses
- Marital status
- Number of dependents
- Occupational history
- Asbestos products you were exposed to
- Types of asbestos fibers you were exposed to
- Evidence against the asbestos companies you sue
- Eyewitness testimony of your exposure to asbestos
- Where you file your claim
Consult a Mesothelioma Lawyer About Your Case
The best plan to get the most compensation is to hire a mesothelioma attorney who can maximize your recovery.
An experienced attorney knows how to work with the unique factors of your case to maximize your compensation.
Certain mesothelioma law firms might be better equipped to handle your case based upon their background and expertise. It’s important to do your research and find a reputable firm to handle your mesothelioma claim before the statute of limitations runs out.