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In this video, Matthew demonstrates how to create a release of liability form. He guides viewers to a link for legal templates, then navigates to the business forms section. He suggests using the search function to find the "release of liability form waiver" and recommends choosing between a general release or a car accident activity waiver, opting for the general release. He explains the steps to fill out the form, including inputting the name of the releaser, their address, and claims description. Matthew also discusses the payment options, which can be in money or items, and mentions entering the agreement date and governing state, likely Texas. Lastly, he touches on the need for a witness or notary.