The beneficiary receives regular and Roth IRA's from the decedent who died b/4 age 70. May a beneficiary who elects to receive substantially equal payments change this method after age 59? (Or am I confusing this with the rules for the IRA account holder who wishes to receive substantially equal distributions?)

It sounds like you're confusing something. A beneficiary must take minimum distributions and there is no penalty even if the beneficiary is under 59½. As long as the minimum is taken out each year, you can do whatever you want (take it out or leave it in) with the rest.

If the beneficiary is not the spousse, isn't there a five year rule?

BPickerCPA: Yes, I'm confusing it with the rule for the IRA account holder/contributor who decides to receive substantially equal payments and cannot change distributions until after age 59. However, for a beneficiary, I understand you to say that minimum distribution rules apply, similar to a regular IRA account holder/contributor who reached age 71, one difference being that the beneficiary of a Roth IRA must withdraw, unlike the Roth IRA holder/contributor. In other words the beneficiary has discretion to withdraw any amount each year, subject to the minimum distribution concerns. So I can just look at Natalie Choate's book for the rules under minimum distributions. Please confim if this is correct.

As long as the beneficiary starts minimum distributions by 12/31 of the year after the year of the account holder's death, minimum distributions are based upon the beneficiary's life expectancy as of the first distribution year, then reduced by one each subsequent year. This will override the five year rule.