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In this video tutorial from PDFRun, viewers are guided on creating a Last Will and Testament, a legal document that specifies the distribution of assets and guardianship of children after one's death. The Will outlines the Testator's properties and belongings, along with final wishes for loved ones. To ensure its legality, the Testator must sign the document in the presence of witnesses and comply with state laws. If a Last Will is not created, the state will determine the distribution of assets and guardianship. The tutorial emphasizes the importance of drafting a Last Will to avoid having the state decide on these matters.