Meghan Markle and Prince Harry reveal name of new foundation

It's official... Meghan Markle and Prince Harry's new foundation has a name!

The Registrar of Companies for England and Wales approved a request from the royal couple on July 1 to name the organization Sussex Royal the Foundation of the Duke and Duchess of Sussex. The name comes as no surprise, as Sussex Royal is the handle the new parents go by on their joint Instagram account.

As ET reported late last month, Meghan and Harry officially split from Prince William and Kate Middleton's Royal Foundation to create their own organization. The Royal Foundation was originally set up by William, Kate and Harry in 2011, with Meghan making her first appearance in connection with the organization in February 2018, before officially joining last June following her wedding to Harry. 

"The Royal Foundation of The Duke and Duchess of Cambridge and The Duke and Duchess of Sussex has today announced the conclusions of a review into its structure, and how it will best support Their Royal Highnesses with future charitable activity," a statement from Kensington Palace read. "Later this year The Royal Foundation will become the principal charitable and philanthropic vehicle for The Duke and Duchess of Cambridge. The Duke and Duchess of Sussex will establish their own new charitable foundation with transitional operating support from The Royal Foundation."

Prior to the announcement, a source told ET that the split among the royals and individual charities were expected, as there were "ongoing discussions about disentangling the finances." The source adds that while the split is expected to lead to a reinvigorated debate about a rift between the two couples, they are on better footing than they have been in the past. William and Kate are readying for a "reign change," the source says, and suitable arrangements are being made for that time.

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Meghan Markle and Kate Middleton at the Royal Foundation Forum in London
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Meghan Markle and Kate Middleton at the Royal Foundation Forum in London
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry and his fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Prince William, Catherine the Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Prince William, Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Prince Harry, his fiancee Meghan Markle, Prince William and Catherine, Duchess of Cambridge attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Prince Harry, his fiancee Meghan Markle, and Catherine, Duchess of Cambridge attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Prince Harry, his fiancee Meghan Markle, Prince William and Catherine, Duchess of Cambridge attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Prince Harry, his fiancee Meghan Markle, Prince William and Catherine, Duchess of Cambridge attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
Britain's Catherine, Duchess of Cambridge and Prince Harry's fiancee Meghan Markle attend the first annual Royal Foundation Forum held at Aviva in London, February 28, 2018 . REUTERS/Chris Jackson/Pool
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