Meghan, Harry Reveal Royal Exit Details Unlisted Video

Samir Hussein/Getty Images Meghan Markle and Prince Harry have revealed more information about "Megxit," a spokesperson told PEOPLE. On April 1, they'll step down from their office at Buckingham Palace to split time between the UK and North America, working with their existing patronages and establishing a new non-profit. Once they officially resign, they will no longer receive money through the "sovereign grant" the royal family receives and will have to earn income as professionals.