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In this video, Matthew explains how to create a release of liability form. He provides a link to legal templates, directing viewers to navigate to the business forms section. Using the search function, he suggests searching for "release of liability form waiver" and selecting either a general release or car accident activity waiver. He chooses the general release and begins filling it out, including details like the name and address of the releaser (e.g., "Matt" from Texas), claims to be released, and payment details (money as the consideration). He also advises setting the governing state to Texas and mentions the need for a witness or notary.