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In this video tutorial, Matthew explains how to create a release of liability form. Viewers can access the needed template via a link to Legal Templates. He guides users to select "Business Forms" and use the search function to find a "Release of Liability Form" or "Waiver." Matthew recommends choosing the "General Release" option and demonstrates the process of inputting details such as the name of the releaser, address, and claims description. He also covers the method for defining payment, suggesting either money or items, and notes the requirement for a date of agreement and governing state, typically Texas, along with witness or notary options.