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In this video tutorial, Matthew explains how to create a release of liability form. He provides a link to legal templates and navigates to the business forms section. Using the search function, he finds the release of liability form waiver, choosing a general release option. Matthew demonstrates filling in the form by entering a name (e.g., "Matt"), address, city (Texas), the claims to be released, and payment details (opting for cash). He also mentions specifying the date of the agreement and the governing state, which will also be Texas, followed by details regarding a witness or notary.