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In this video tutorial from PDFRun, viewers learn how to create and fill out a Last Will and Testament, a legal document that specifies the distribution of assets and guardianship of children after one's death. The Last Will outlines personal possessions, real estate, and the wishes of the Testator regarding beneficiaries. To ensure the document's legality, it must be signed by the Testator and witnessed, in accordance with state laws. The video emphasizes that dying without a Last Will can lead to the state determining asset distribution and guardianship decisions. Writing a Last Will is crucial for expressing personal wishes and protecting one's legacy.