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In this video tutorial, Matthew explains how to create a Memorandum of Understanding (MOU) using legal templates. He instructs viewers to click on a provided link and navigate to "business forms" to access various templates. Users should utilize the search function to find the MOU template. The first step in creating the document is to identify the first party as either a business or an individual, followed by entering their name, address, city, state, and zip code. The same information applies to the second party. Viewers must then specify when the memorandum will become effective, provide the project name and objectives, and outline the expertise each party will contribute to the project.