Prince Harry and Meghan MarkleMeghan MarkleMegxit, Trump and the generational divide Prince Harry blames 'powerful' media for stepping away from royals Harry and Meghan to give up royal titles, no longer receive money from royal family MORE, the duchess of Sussex, are planning "to step back" from their prominent roles as members of the royal family, the couple announced Wednesday. 

The pair said they will be balancing their time between North America and the U.K. as they raise their 8-month-old son Archie and launch a new “charitable entity.” 

“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen,” they wrote in an Instagram post. 

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“We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages,” the post continued. “This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity.”

Prince Harry and Markle added they will later share the “full details of this exciting next step.”

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“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen. It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment. We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages. This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity. We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support.” - The Duke and Duchess of Sussex For more information, please visit sussexroyal.com (link in bio) Image © PA

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Prince Harry is sixth in line for the British throne.

Buckingham Palace reportedly said that “discussions with The Duke and Duchess of Sussex are at an early stage,” in a statement issued following the announcement.

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“We understand their desire to take a different approach, but these are complicated issues that will take time to work through,” the statement read, according to copies shared on Twitter.

The American-born Markle has struggled under the harsh glare of the U.K. tabloid press since marrying into the royal family in 2018. In October, she and the prince filed a lawsuit against Associated Newspapers, owners of The Mail, alleging it published portions of a private letter she had written.

"Though this action may not be the safe one, it is the right one," the prince said in a statement at the time. "Because my deepest fear is history repeating itself. I’ve seen what happens when someone I love is commoditised to the point that they are no longer treated or seen as a real person. I lost my mother and now I watch my wife falling victim to the same powerful forces."