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Archie & Lilibet Will Receive Royal Titles When Grandfather Prince Charles Takes The Throne

According to the royal family's guidelines, Archie and Lilibet will get Prince and Princess titles when their grandfather Prince Charles takes the throne.

While Prince Harry and Meghan Markle's two children don't have any titles, they'll most likely inherit one when Queen Elizabeth's reign is over.

At the moment, the guidelines state that the queen or king's great-grandchildren should not be bestowed titles, except for those who are born to her eldest grandchild. In this case, that's the children of Prince William, which is why George, Charlotte and Louis are known as Prince or Princess.

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Since Prince Charles is next in line for the throne, when he becomes king, his grandchildren — Archie, 2, and newborn Lilibet — will automatically be given the royal titles.

However, now that Meghan and Harry stepped down from their royal duties, they may make the decision to not give the kids the honors.

"As the grandchildren of the Sovereign, they have the right to be upgraded to the style of His or Her Royal Highness," editor Joe Little told PEOPLE. "But that begs a question of whether Harry and Meghan want that."

Little then wondered, "Do they prefer what [Prince] Edward and Sophie have, and not have their children as Their Royal Highnesses with a view to them leading relatively normal lives?"

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Until Charles does become King, Meghan and Harry seem to be content as they care for their two kids in California.

"This baby solidifies that they are creating roots here in the States," shared an insider, adding to PEOPLE that the pair are "so happy" as a family of four.

Their son Archie is also excited over being a big brother, as a source told Us Weekly that he's "such a kind, loving child and there aren’t any jealousy issues."

"They are already back home in Montecito with their baby girl," the source added. "Archie absolutely adores his little sister and gives her lots of kisses. He’s held her with the help of his parents."