Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex, have announced their plan to step back as “senior members” of Britain’s royal family.

In a statement shared on their official Instagram page Wednesday, the couple announced they will be transitioning away from their roles as “senior” royals and will begin splitting their time between the U.K. and North America in 2020.

“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,” the Duke and Duchess said in the statement.

“We intend to step back as roles as “senior” members of the Royal Family, and work to become financially independent, while continuing to fully support Her Majesty The Queen.”

Shortly after the statement was shared, Buckingham Palace also posted its own short response.

“Discussions with the Duke and Duchess of Sussex are at an early stage,” the statement read. “We understand their desire to take a different approach, but these are complicated issues that will take time to work through.”