The final details surrounding Prince Harry and Meghan Markle’s bid to be no longer “working members of the Royal Family” have been announced with Buckingham Palace and Queen Elizabeth II issuing statements on Saturday.

The couple will give up their HRH titles, and will no longer receive public funds or undertake any royal duties which will all be completed in the spring. The statements follow the couple’s bombshell announcement last week that they planned to step back from royal duties.

“Following many months of conversations and more recent discussions, I am pleased that together we have found a constructive and supportive way forward for my grandson and his family,” said a statement from the Queen.

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“Harry, Meghan and Archie will always be much loved members of my family,” the statement continues. “I recognize the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life.”

The Queen concluded by thanking the couple for “their dedicated work” and noted that she was “particularly proud of how Meghan has so quickly become one of the family. It is my whole family’s hope that today’s agreement allows them to start building a happy and peaceful new life.”

Meanwhile, a statement from Buckingham Palace laid out the nuts and bolts of this new arrangement. According to the statement, the pair “understand that they are required to step back from Royal duties, including official military appointments,” and “will no longer receive public funds for Royal duties.”

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The palace’s statement adds that, “with the Queen’s blessing, the Sussexes will continue to maintain their private patronages and associations. While they can no longer formally represent the Queen, the Sussexes have made clear that everything they do will continue to uphold the values of Her Majesty.”

In addition, the pair “will not use their HRH titles as they are no longer working members of the Royal Family.”

The statement also declared they will be repaying all funds used in the recent renovation of Frogmore Cottage, but stated that it “will remain their U.K. family home.”

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The statement concludes: “Buckingham Palace does not comment on the details of security arrangements. There are well established independent processes to determine the need for publicly-funded security. This new model will take effect in the Spring of 2020.”

Everyone hopes that this plan will work out, but in a year, Queen Elizabeth, Prince Charles, Prince William and likely Prince Harry will come back together to review how things have gone.

Daily Express royal correspondent Richard Palmer took to Twitter to clarify details in the statements, revealing the couple will “live mostly in North America” and “will be free to earn a living.”