Kensington Palace Just Announced that Meghan Markle and Prince Harry Have Officially Split from Their Joint Charity with the Cambridges

The Sussexes just called it quits with the Cambridges when it comes to the couples' shared professional responsibilities. (But, don't freak, because it's not the end of the Fab Four for good.)

Kensington Palace announced Thursday morning that Meghan Markle and Prince Harry are splitting from The Royal Foundation, a joint charity they shared with Kate Middleton and Prince William. The two couples have headed up the venture since Markle joined the royal family upon her marriage to Harry. Before that, the Royal Foundation was led by Harry and William, with Kate added when she married William in 2011.

"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," the palace's statement reads. "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."

Yep, you read that right. Harry and Meghan are starting their own charity foundation that will be separate from Will and Kate's Royal Foundation.

According to Daily Mail correspondent Rebecca English, the new Sussex foundation will be up and running by the end of the year. And also, this move has nothing to do with a royal rift. (*Insert giant sigh of relief.*)

The palace said these changes are designed to "complement the work and responsibilities of Their Royal Highnesses as they prepare for their future roles, and to better align their charitable activity with their new households." Basically, it means since Will and Kate will one day sit on the throne, they need to be focused on projects that will align their interests with the sovereignty. Meghan and Harry, on the other hand, will (likely) never be King and Queen (or even come close), so they're able to focus on projects that are nearer and dearer to the Sussexes' hearts.

Dubbed the "Fab Four" after their appearance in February 2018 at the Royal Foundation Forum, it seems the royal band is breaking up, at least in a working capacity. However, the in-laws will still help each other out with individual projects, like the extension of their Heads Together campaign launched by the Sussexes and the Cambridges that was just announced last month.

And, of course, they'll continue to swap parenting advice and meet in private for playdates with baby Archie. (So, no need for breakup tears just yet, hun.)