401k distributions to adult children?

I have a small(100k) 401k and will be 70 1/2 in a few years.Is there a way to give this money to my kids or either donate it before ir becomes taxable?

txs,
BB

Terry Says:  When you are 70-1/2 you will be required to start taking Required Minimum Withdrawals.  Right now, you can withdraw money and pay taxes, and then gift some of the money to your children.  You can gift each of them $14,000 per year without any gift tax or estate planning implications.  And, of course, they don’t pay taxes on the gift. But the only way you could gift the money to them without immediate tax  consequences, is to have named them as beneficiaries.  When you die, they will get the money and should immediately roll it to an inherited IRA.

By the way, that process will be a lot easier if you (assuming you have retired from this company) roll the entire amount into an IRA rollover and name them as beneficiaries.  Many corporations have restrictions on the distribution of plan assets at death.  An IRA distribution will be a lot easier.  Plus, in an IRA you’ll find a better choice of investments for this stage of your life.