4. Are there any other adjustments you think I should make considering the situation?
The information I've learned from this website and the knowledgeable and less experienced investors has been very helpful. Thank you in advance for any assistance you can provide.
I managed my grandmother's portfolio for about 6 years before she passed on 2 years ago at 88. When I took over, I came across a broker that helps find callable CDs with death puts. They aren't as common now with the yields the way they are, but callable CDs (and some more archaic CDs that have different criteria for interest payments, such as:
LIBOR < 6%
(10-year bond minus 2 year bond)x4
They pay higher yields, but the catch is that they're callable by the issuer after a certain time. Also, the way the rate structures are set up, if/when rates rise back up, you might wind up with lower-yielding CDs based on the equation. The beneficial aspect is that with the death put feature, when the CD owner passes on, their estate can redeem the CD at full value without penalty.
If I were you, I'd look into some of these as a possible augmentation to her portfolio to spruce up the yield.