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In this video tutorial by PDFRun, viewers learn how to create and complete 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 personal possessions and real estate, ensuring that beneficiaries receive designated inheritances. It also allows individuals to convey final wishes to loved ones. To make the Will legally binding, the Testator must sign the document in the presence of witnesses and comply with state laws. Without a Last Will, the state determines asset distribution and child guardianship, potentially against the individual's intentions.