Kylas
Explorer
Well, the text says;
"Additionally, the subject takes only half damage from all wounds and attacks (including that dealt by special abilities) that deal hit point damage. The amount of damage not taken by the warded creature is taken by you."
So long as the warded creature has the spell active on them, they take half damage. That the caster is dead has no effect on that part of the spell text, because it is stated separately from the sentence saying that the left over damage is taken by the caster.
This is exactly what I thought. The spell wold be in effect so you still take half damage and get the AC and save buffs.
OTOH can it be argued that since caster is dead and her body and soul are seperated that she out of range thus ending the spell?