Retirement lump-sum planning for Parents

I am seeking some advice here if there’s any service, guidance related to lump sum investing for my retiring parents. They don’t have any liabilities, will get monthly pensions. They hold some equities, MFs but that was bit scattered without proper planning. If anyone here helped their parents plan better risk, stress free retirement lives, pls feel free to add. My idea as of now is to - 1. Put 20% in FDs for any medical emergencies (beyond health insurance) 2. Another 20% for philanthropy goals they have from long 3. Rest 60% in icici pru multi asset fund , it will keep rebalancing the asset classes and taxation will be under LTCG. Please share alternate plans, will help us. Thanks!