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In this tutorial, PDFRun explains how to create and complete a Last Will and Testament, a legal document that outlines the distribution of your assets and guardianship of your children after your death. The Will specifies your property, personal belongings, and 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. Without a Last Will, the state will determine the distribution of your assets and guardianship arrangements. The video emphasizes the importance of having a Last Will to avoid complications for your beneficiaries.