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I'm a big fan of if it ain't broke don't try and fix it. If Govt bonds are what her husband decided would work for them, that is what I would continue with. Maybe you perhaps need to look at the situation through their eyes - their strategy is likely to preserve rather than your strategy of growing via investing.
I think they are dangerous waters you are treading. If anything you recommend does go bad, watch for those heirs to the estate coming after you.
If she sticks with the Govt. bonds, it's a strategy she knows and believes in. It is not like she needs a targetted % to live on, so why take any risk?
As to the tax planning estate, once again I would assume that her husband took a look at that aspect. I would not even consider setting up a strategy that takes that into account. I think this goes way beyond what the lady was asking of you.
It is a difficult situation you find yourself in. Trying to please your friend and at the same time respecting boundaries.
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I be a girl, he's a boy. Semi-FIRED July 08. Mid 40s, no kidlets. Likely to unSemi-FIRE last half of 2009 to sweeten the pot. Market crash of 2008 demonstrated we were not as comfortable with projected revenue as we thought.
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