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In this video tutorial, Matthew guides viewers through creating a Memorandum of Understanding (MOU) using legal templates. He instructs to first click the link provided in the video description, navigate to "business forms," and search for "memorandum of understanding." Once accessed, users will fill out information for the first party, identifying whether it is a business or individual, along with their name, address, city, state, and zip code. The same information is required for the second party. Next, viewers should specify the effective date, project name, and detail the main objectives. Lastly, they should outline the expertise and experience each party will contribute to the collaboration.