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In this video, Matthew demonstrates how to create a release of liability form. He advises viewers to click on the provided link to access legal templates and navigate to the business forms section. He suggests using the search feature to find the "release of liability form waiver," choosing between a general release or a car accident activity waiver, and proceeding with the general release. Matthew shows how to fill out the form by entering the releaser's name and address, specifying claims to be released, determining the payment method (he selects money), and setting a payment amount. Lastly, he notes the importance of including the date of the agreement and the governing state, which is Texas. Witness or notary requirements are also mentioned.