You MUST leave it inside the IRA. To do otherwise would trigger an income tax penalty that might impact his cost of Medicare,and potentially his ability to access Medicaid nursing home care. So leave the money inside the IRA.
Now, as I write this, the market has had a significant bounce back over the past two days. I would suggest contacting Fidelity immediately. They will need to physically see the POA, and it might even have to be “certified or guaranteed” by a bank that knows you before they will accept it.
So call today and get the process started. You might want to overnight the POA and guarantee to them. At that point, and if it is not in the midst of another market downdraft, you should move half of the money into a money market fund. You won’t earn any interest to speak of, but you can’t lose any money there either.
Please let me know if you have a problem.