My parents are in retirement (70’s) and have approximately 350,000 in a taxable brokerage with all US base equities. They collect from a moderate social security and have rental income so do not need to tap into their investments as of now.
Their portfolio composition is approx 70% VTI and the rest individual stocks.
I want to reduce risk and diversify their portfolio with market cap domestic/international and 30-40% bonds. I want to sell off risky individual stocks and purchase international/bonds or purchase VTINX until this 60:40 ratio target is hit while minimizing tax burden.
Their adjusted gross income is ~$40,000 so I could sell stocks at up to approx $50,000 long term capital gains at 0%.
How do I get to this allocation as safely and quickly as possible with the lowest tax burden on them?