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The video tutorial from PDFRun explains how to create and complete a Last Will and Testament, a legal document that specifies the distribution of your assets and guardianship of your children after your death. It outlines your possessions and details your final wishes. To ensure legal validity, the Testator must sign the document in the presence of witnesses and comply with state laws. Without a Last Will, the state will decide the distribution of your properties and guardianship of any children. The tutorial emphasizes the importance of having a Last Will to ensure your wishes are honored.