Still looking for the paperwork on the Accidental Death policy. It appears it was about $6 / month for NEA (National Education Association) and was for a $390,000 policy.
I find it hard to believe that premium would pay that much for a death from a fall, but maybe so. Maybe it was more limited than just a run of the mill accident. Anyone with experience here have any perspective?
The policy is through Prudential. They are closed today, but it appears the only way the Accidental Death / Dismemberment policy only pays if the death occurs in a vehicle or conveyance.
I'll have to call tomorrow to confirm, but the way I'm reading it, an accident where one falls does not appear to be covered.
Make the claim and let them deny it. Do not even ask the question about whether it is covered.
On the other issues, if she is an authorized user, and not a joint account holder, then she would not be responsible for the debt. The creditors could try to collect from the estate, if there is anything there to collect. You need to talk to a probate lawyer.
On the $800k in the business, you really need to talk to a business lawyer. Small businesses will always have rules about selling. It will be in writing, a shareholder agreement, an operating agreement, something like that. The attorney will know what to get and can tell you how to go about selling properly.
With potentially $800k in assets and $100k in life insurance money coming, you need to stay far away from bankruptcy court. She's practically a millionaire.