Due to launch in the first half of 2005, the monthly will go head to head against titles such as The National Magazine Company's Good Housekeeping, Hachette Filipacchi's Red and BBC Magazines' Eve.
Targeting ABC1C2 women aged between 30 and 59, Conde Nast is looking at an initial circulation of between 150,000 and 200,000.
Forbes will work alongside the title's publisher, Chris Hughes, who was poached from the same role at Good Housekeeping last week.
The magazine's launch will be backed by an aggressive marketing campaign, which Conde Nast has said will be on a par with the £5 million launch of Glamour in 2001.
Conde Nast is talking to a number of undisclosed agencies about an above-the-line campaign, but at this stage has only confirmed that J. Walter Thompson, the agency which launched Glamour, will appear on the pitchlist.
Nicholas Coleridge, the managing director of Conde Nast, said: "Easy Living will be a younger, fresher Good Housekeeping with a bit of Red in it. Women's lifestyle is a growing sector and we feel we will bring something new and fresh to the market."
He added: "We have a crack team of editor and publisher."
Forbes has spent nine years at Conde Nast. Previously she had stints working at Hachette and Emap on titles including Elle and Sky.