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In this video, Matthew explains how to create a release of liability form. He starts by directing viewers to a link for legal templates, where they can access business forms. He suggests using the search function to find the "release of liability form waiver," choosing between a general release or a car accident activity waiver, and he opts for the general release. Matthew provides a walkthrough for filling out the document, including sections for the name (e.g., "Matt"), address, city, claims description, payment considerations, agreement date, and governing state (Texas). He concludes by mentioning the inclusion of a witness or notary in the form.