How do I shelter proceeds from an estate auction and reinvest the money with a steady stable return for my elderly in-laws?

This is not really a legal question but more of investment or financial planning question. However, from a common sense perspective, people 75 years of age should not be taking risks. It is really good that you are taking an active interest here. What you need to do is to contact some investment advisors. After the Bernard Madoff debacle, you should seek out solid well established firms. You could use a full service broker and pay the usual commissions, or you could go to the Fidelity Investments or Vanguard that are mutual fund companies where there are no commissions to be paid but each mutual fund charge their normal expenses. The beauty of the mutual fund companies is that they can build a portfolio based on age, financial goals and personal risk. My suggestion it to call Fidelity or Vanguard and discuss your issues and then call regular brokerage firms (Merrill Lynch, etc.). Get information to make an informed choice.
Hope this helps.

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