Prince William and Kate are officially the new Prince and Princess of Wales! King Charles III bestowed the titles on his eldest son and daughter-in-law Kate on Friday during his address to the nation.

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“Today, I am proud to create him Prince of Wales, Tywysog Cymru, the country whose title I have been so greatly privileged to bear during so much of my life and duty,” the monarch said in his speech.

King Charles continued, “With Catherine beside him, our new Prince and Princess of Wales will, I know, continue to inspire and lead our national conversations, helping to bring the marginal to the centre ground where vital help can be given.”

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Charles, formerly known as the Prince of Wales, became King upon his mother Queen Elizabeth’s death on Sept. 8. The last person to hold the title of Princess of Wales was William’s late mother, Princess Diana.

With Charles as the new sovereign, William is now the heir to the throne. The Prince and Princess of Wales’ three children have also moved up in the line of succession. Prince George is second in line to the throne followed by Princess Charlotte (third) and Prince Louis (fourth).