It is critically important that you properly name your IRA beneficiary because, in the event of your demise (which will hopefully happen very far into the future), the tax ramifications change based on who you name as your beneficiary. Usually, your spouse, if you have one, will be able to inherit your IRA without any income tax effects because you two are legally bound. Everyone else, though, is subjected to special rules.
If you die before you turn 70.5 and the person who inherits your IRA is not named the beneficiary, that person must take distributions within a year and completely empty the IRA within five years. This will probably push them into a higher tax bracket and increase the percentage of your IRA that goes to taxes and decrease the percentage your heir gets to keep. If that person is named the beneficiary, then he or she still has to take distributions with a year but then can stretch them out over their lifetime and not over five years. If you die after 70.5, your heirs must take distributions based on the projected life expectancy remaining and may be subject to an estate tax (if you have more than $2M in your estate).
(Please seek a professional before making any financially related decisions, remember I’m just an amateur)