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In this video tutorial, Matthew explains how to create a release of liability form. He provides a link to legal templates where viewers can access various business forms. He suggests using the search function to find the "release of liability form waiver" and recommends selecting either "general release" or "car accident activity waiver," opting for the general release in this instance. He demonstrates how to input relevant details such as the releaser's name and address, along with describing the claims being released. Matthew also covers the payment options, suggesting money as the method and specifying an amount. Finally, he mentions including the date of the agreement and the governing state, advising that it will be the same as the releaser's location.