Asbestos trust funds are financial reserves established to compensate individuals who have been harmed by exposure to asbestos. These funds were created by companies that faced numerous lawsuits due to the health risks associated with asbestos, such as mesothelioma and other lung diseases. By setting up these trusts, companies can manage their liabilities while providing a source of compensation for affected individuals. The funds are typically financed through settlements and bankruptcy agreements, allowing victims to file claims for medical expenses, lost wages, and other damages. Each trust has specific guidelines for eligibility and the claims process, ensuring that those impacted by asbestos exposure receive the support they need.