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In this video tutorial, Matthew explains how to create a Memorandum of Understanding using legal templates. To start, viewers are instructed to click the link provided under the video, navigate to the "Business Forms" section, and access all available forms. Using the search engine, they should look for "Memorandum of Understanding" to create the document. The tutorial outlines the necessary information to include, such as identifying the first and second parties (business or individual), their respective names, addresses, and zip codes. Additionally, viewers need to specify the memorandum's effective date, the project's name, its objective, and the expertise that each party will contribute to the collaboration.