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In this video tutorial, PDFRun explains how to create and complete a Last Will and Testament, a legal document that specifies the distribution of your assets and belongings after your death, as well as guardianship of any children. It details the importance of outlining your final wishes and designating beneficiaries. To make the will legally binding, the Testator must sign the document in the presence of witnesses and comply with state laws. The video emphasizes that without a will, the state will dictate how your assets are distributed and who will take guardianship of your children, making the creation of a Last Will essential.