Under assets are: Bank savings accounts $290,000; GICs $4,265;

I'm guessing she doesn't need that $290,000 right away, so why leave it parked in savings account where it earns little, if any, interest?  Violet is not a sophisticated investor, so I'll recommend something I wouldn't do myself, but which will work for an unsophisticated investor like Violet.

Take some of the $290,000 and park it in a GIC or three.  In fact, put it into a GIC ladder.  Say, $20,000 to $40,000 in each of a one year, two year, three year, four year and five year non-cashable GIC.  The exact amounts should be based on her plans and financial needs for the next three to five years.

It's not going to protect from inflation, but it will give a small return that is better than what she would get in a bank account.  And she won't get hit with exorbitant mutual fund fees either.