Young widow chooses to default on mortgage on a vacant commercial building because it's draining the proceeds from her late husband's life insurance. The commercial property is in her name personally. (We all know it was wrong to have it in her name personally but that's water under the bridge now; a separate entity would have prevented this very matter). There is $250k cash left from the life insurance proceeds. She's going to default on $1.1MM +/- in debt; the creditors are lucky if they get $150k for the commercial building in this market. A year ago it probably would have brought $500k. There is other debt going into the bankruptcy aside from the debt on this commercial building. She does have a fair income (maybe $150k/ year) from an ongoing business which her and her husband started 10 years ago. Is there anything she can do with the remaining life insurance money (about $250k cash) to keep it from being taken in the bankruptcy?