If ravelry.com used WePay, each time someone bought one of her amazing works of art, the money would be deposited directly into a FDIC insured account that your wife controls.

From there, your wife could transfer the money directly into her own regular bank account.

If ravelry.com goes out of business before they transfer the money to her paypal account, there is no chance that they can take any of her money with them. (While highly illegal, I've seen this happen elsewhere with a similar setup.)