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What is the average settlement for asbestos cases?
between $1 million and $1.4 million
The average asbestos settlement claim is between $1 million and $1.4 million. There are many factors that can impact a mesothelioma lawsuit timeline, such as the number of defendants, the statute of limitations/state jurisdictions, whether your case is resolved through a settlement or a trial, and more.
How can I get mesothelioma compensation?
Financial compensation for mesothelioma may come from asbestos trust funds, settlements or jury verdicts. It typically takes less than one year to receive mesothelioma compensation from trust funds and settlements. It may take years to receive compensation from trial verdicts.
Who can sue for mesothelioma?
A mesothelioma lawsuit is typically filed on behalf of a person or the family of a person who has been diagnosed with mesothelioma. If you recently lost a loved one to mesothelioma, you may have the right to recover financial compensation to help you during this difficult time by filing a wrongful death lawsuit.
Do you pay taxes on mesothelioma settlements?
Are Mesothelioma Settlements Taxable? In general, compensation received through a mesothelioma settlement is not taxable. According to section 104 of the IRS tax code, compensation awarded in direct connection to personal injuries or sickness is not taxed.
Can a blood test detect asbestos?
The answer is yes and no. A new blood test has the potential to detect mesothelioma a decade before patients exhibit any symptoms. However, it cannot detect mere asbestos exposure. In fact, some individuals who have been exposed to asbestos never develop the malignant cancer, while others do.
How long does a mesothelioma claim take?
Most solicitors will aim to settle a claim without going to court within four to six months for people living with mesothelioma but it can take longer, for example, if the case requires the solicitor to trace witnesses or the insurance company of an out-of-business employer or the case has other complications.
How much are mesothelioma settlements?
The average mesothelioma settlement is between $1 million and $1.4 million while the average mesothelioma trial verdict is $2.4 million. A settlement can provide much needed funds to help pay for treatment or family costs and is usually paid out over time.
Why do people sue for mesothelioma?
Mesothelioma lawsuits can provide money for medical and travel expenses, pain and suffering related to the illness and a stable future for your loved ones. A qualified mesothelioma attorney can help you decide whether to pursue a lawsuit and guide you through the process.