Your wife has several options as to what to do with her inherited IRA. These are well-described in this web page from Charles Schwab (be sure you click on the "non-spouse" options): https://www.schwab.com/public/schwab/investing/retirement_and_planning/understanding_iras/inherited_ira/withdrawal_rules
If she's not sure what to do, I strongly suggest she talk to the bank or brokerage that held her father's IRA. I'm sure they will help her.
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