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Prince Charles has been waiting to become King his entire life, and now at the age of 70, he is officially the world’s longest-waiting future monarch as his mother, 93-year-old Queen Elizabeth, is the longest-reigning monarch in British history. She has sat on the throne for an incredible 65 years, and while she has given no signs of stopping anytime soon, Prince Charles is holding secret meetings to prepare for his long-awaited role as King of England.

Queen Elizabeth and Prince Charles
BRAEMAR, SCOTLAND – SEPTEMBER 02: Queen Elizabeth II and Prince Charles, Prince of Wales attend the 2017 Braemar Highland Gathering at The Princess Royal and Duke of Fife Memorial Park on September 2, 2017 in Braemar, Scotland. (Photo by Samir Hussein/Samir Hussein/WireImage)

Inheriting a fortune

When Queen Elizabeth passes, not only will Prince Charles become King, but he will inherit the Queen’s $678 million fortune that includes the Duchy of Lancaster, a private estate that provides income for the monarch. When he is crowned King, Charles will also inherit the title of Duke of Lancaster, and he has been attending meetings for the Duchy, which has generated more than $25 million a year in income over the last five years.

According to Daily Star Online, Prince Charles and Camilla, Duchess of Cornwall, held another meeting at Clarence House to discuss the Queen’s assets, including Buckingham Palace. Charles and Camilla are supposed to move into the palace after his coronation, but insiders say that Charles isn’t a fan of this tradition.

“He doesn’t see it as a viable future home or a house that’s fit for purpose in the modern world,” says a source. “He feels its upkeep, both from a cost and environmental perspective, is not sustainable.”

Instead, Charles reportedly wants to stay in Clarence House while turning Buckingham Palace into a museum. Currently, the Queen lives in the palace and keeps a second home at Windsor Castle.

A new Prince of Wales

While Prince Charles waits to become King, his son, Prince William – currently second in line to the throne – is also preparing to become the next Prince of Wales, which is the title of the male heir. A report claims that William attended two top-secret meetings earlier this year to discuss the Duchy of Cornwall, part of Prince Charles’ $1.2 billion estate.

Editor of Royal Central, Charlie Proctor, says that William is ready for the duties and responsibilities that come with being the Prince of Wales.

“As an example, William recently left his job as an air ambulance pilot to become a full-time working royal. As time goes on, his presence becomes ever more important, meaning he has to commit all of his working time to royal duties,” says Proctor.

He went on to say that William is also preparing to become King because there is no chance he will be the Prince of Wales for more than 60 years like his dad. Since his time will come “sooner rather than later,” William has to “learn the ropes.”

The transition is coming soon

Multiple reports claim that Queen Elizabeth has told her inner circle that she will ask for legislation to make Charles King if she is still the monarch at age 95. According to Royal commentator Robert Johnson, high-ranking courtiers say that preparations for the transition from Queen Elizabeth to Prince Charles have gained steam since there are less than two years before her majesty reaches her reported age of retirement.

When Charles does take the throne, he will be the oldest ever British monarch to do so. Despite the rumors that Queen Elizabeth wanted to skip over Charles and go straight to William, she made it clear last year at the 2018 Commonwealth Heads of Government meeting that she hopes Charles will take her place as the head of the group of countries.

It is not automatic for the British monarch to hold that position, but the Queen hopes the different leaders will choose Charles to carry on her work.

Next in line for the throne after Prince Charles and William is Prince George, Princess Charlotte, and Prince Louis. Sixth in line is Prince Harry, followed by his son Archie Harrison Mountbatten-Windsor. Number eight is Queen Elizabeth’s second-oldest son Prince Andrew, the Duke of York, and his daughters Princess Beatrice and Princess Eugenie round out the top ten.