An asbestos settlement trust is a trust used to settle personal injury claims resulting from asbestos exposure illnesses from a particular company. Today, nearly all large companies whose employees were exposed to asbestos during their working years have established trusts to handle personal injury claims. These trusts work with families and distribute money to victims, either on a yearly basis or in lump sum settlements. In some cases, where sufficient assets do not exist to pay claimants the full value of their claims, each claimant is paid their pro rata share of the amount in the trust. Trusts of these kinds are approved and supervised by the US Federal Court System. In most cases, where an asbestos settlement trust has already been set up, claimants do not need an attorney in order to file their claim. However, there may be benefit to using an attorney experienced in asbestos claims, anyway, as their experience may help you to receive a larger settlement.