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In this video, Matthew guides viewers on creating a release of liability form. He begins by directing them to legal templates via a provided link, highlighting the section for business forms. He recommends using the search function to find the "release of liability form" waiver, choosing the 'general release' option to create the document. Matthew walks through the fields: naming the releaser, inputting their address and city, and listing the claims to be released. He suggests specifying payment, opting for money, and entering the amount. Lastly, he advises setting the agreement date and governing state, which is typically Texas, followed by the inclusion of a witness or notary.