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In this video tutorial, Matthew explains how to create a release of liability form. He directs viewers to a link for legal templates where they can access business forms. Matthew advises using the search feature to find "release of liability form waiver" and recommends selecting either a general release or car accident activity waiver, opting for the general release. He demonstrates how to fill in necessary information, including the name and address of the releaser, which he sets in Texas. He discusses entering claims to be released, choosing payment methods, and specifying the agreement date and governing state. Lastly, he mentions the need for a witness or notary.