I will turn 70-1/2 in July of 2007. Is it better to withdraw the required amount for 2007 prior to July, or can I wait until December? I remember reading something about if one waits too long that you have to take two withdrawals in one year. I would prefer not to have to do that. Thank you.

You can wait until December, but I recommend you contact the IRA custodian and resolve all relevant issues well before December to avoid delays and problems.