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William S. Forsberg
Partner

Experience

William S. Forsberg is an attorney at Chestnut Cambronne and has over 35 years of legal and tax experience counseling individuals, fiduciaries and businesses in the areas of estate planning, taxation and corporate law. He works with family-owned businesses and helps clients craft complex business succession plans. Bill also has considerable experience in charitable planning and foundation administration for clients. He considers charitable tax planning in the context of business transactions, structures charitable remainder and charitable lead trusts and gift annuities, and guides clients as they work with other professionals, including appraisers, accountants, investment specialists and insurance advisors. Bill advises on asset protection, deferred payment of estate taxes, and changes to the tax law, and how those affect business succession plans. Bill is certified in taxation by the Florida Bar and is licensed to practice law in Minnesota, Florida, Arizona and South Dakota. Bill is a Fellow of the American College of Trust and Estate Counsel, and former chair of the Business Planning Group of the Real Property Trust and Estate Law Section of the American Bar Association, which deals with tax planning issues that affect family businesses. Bill is a frequent writer and lecturer, and as part of his advocacy work with bar associations, has submitted comments to the IRS and Congress on the effects of estate tax issues. For 10 years Bill taught law courses at William Mitchell College of Law in trusts and estate law and in estate taxation. Bill is a former certified public accountant and has significant knowledge in income taxation of individuals, trusts and businesses.

Bill has been featured in numerous news and professional publications on estate planning topics including Probate & Property Magazine, a publication of the American Bar Association, the Wall Street Journal, and the Minneapolis Star Tribune in an article titled "Leaving Minnesota, Residency Rules Can be Tricky, Especially for Folks with Two Homes”. Bill has been recognized as "Lawyer of the Year" by The Best Lawyers in America® 2017 in Non-Profit/Charities Law, has been selected for inclusion in Super Lawyers® since 2005, named one of Super Lawyers Top 40 Minnesota estate planning attorneys in 2005, and is consistently named among The Best Lawyers in America.

Bill has authored over 50 articles on estate planning including the following:

  • "Asset Protection and the Limited Liability Company: Not the Panacea of Creditor Protection That You Might Think!", Probate & Property Magazine
  • Co-author (with Jessica A. Cohan), "The IRS's Section 6166 Security Dance: IRS Notice 2007-90 and Security for Deferred Payment of Estate Taxes Under Code § 6166", Probate & Property Magazine
  • Co-author (with Hugh F. Drake), "The New IRS Appraiser Penalties Under Code § 6695A: Fair and Balanced or Simply Unworkable?", Probate & Property Magazine
  • Co-author (with Hugh F. Drake), "Lawyers' Group Protests the Appraiser Penalties", Trusts & Estates Magazine
  • Co-author (with Darren M. Wallace), "Planning for Property Interests in More Than One State After the Demise of the State Death Tax Credit", Probate & Property Magazine
  • Author "Partners in Life and at Death: The New Minnesota Elective Share of a Surviving Spouse Statute", William Mitchell Law Review
  • Author, "The Snowbird’s Plight: Migratory Minnesotans Must Beware Where They Land", Bench & Bar of Minnesota Magazine
  • Author "Income Tax Reimbursement Clauses in Irrevocable Grantor Trusts-When To Use Them And When Not To Use Them", Probate & Property Magazine
  • Author "The Family Cabin LLC", Probate & Property Magazine
  • Author "Asset Protection and the Limited Liability Company Not the Panacea of Creditor Protection That You Might Think!", Probate & Property Magazine
  • Author "Gift Transactions Under the Statutory Short Form Durable Power of Attorney", Bench & Bar of Minnesota
  • Author, "Special Powers of Appointment: The Key to Flexibility in Estate Planning", Estate Planning Magazine
  • Author "Leveraged Transfers of Business Assets", Probate & Property Magazine
  • Author "A Client’s Death Doesn’t Mean All Planning Must Rest in Peace: Qualified Disclaimers and Other Keys to Post-Mortem Planning Opportunities", Probate & Property Magazine
  • Author "The IRS’ Section 6166 Security Dance - IRS Notice 2007-90 and Security for Deferred Payment of Estate Taxes Under Section 6166", Probate & Property Magazine