King Charles and Prince William.Photo: Duchess of Cambridge, Kensington Royal/Instagram

Prince William, Prince Charles

King Charles IIIandPrince Williamare stepping up to their new royal roles united.

Upon the death ofQueen Elizabethon Sept. 8, Charles immediately acceded to the throne and named his eldest son the Prince of Wales, the traditional title for the heir, the following day. And although the twodon’t have a traditional father-and-son relationship, they are now closer than ever before.

“Talking about the future of the country and their future roles has strengthened their bond,” a source who knows both Charles, 73, and William, 40, tells PEOPLE in this week’s cover story.

In addition to coming together over the deaths ofPrince Philip, Charles' father who died in April 2021, andQueen Elizabeth,Prince HarryandMeghan Markle’s decision to move to California after stepping back as senior members of the royal family in 2020 has “brought [William and Charles] closer,” says the source.

King Charles and Prince William.DANIEL LEAL/POOL/AFP via Getty Images

King Charles III and Britain’s Prince William, Prince of Wales walk behind the coffin of Queen Elizabeth II, adorned with a Royal Standard and the Imperial State Crown

It was William who helped soothe Charles, “defusing the situation,” says a royal insider.

Queen Camilla, King Charles, Prince William and Kate Middleton.Chris Jackson/Getty

LONDON, ENGLAND - OCTOBER 01: (THE PHOTOGRAPH SHALL NOT BE USED AFTER FRIDAY, 14TH OCTOBER 2022 WITHOUT PRIOR PERMISSION FROM ROYAL COMMUNICATIONS. All terms of release must be adhered to. The photograph has been distributed with permission from Royal Communications. The photograph is being made available by way of licence on condition that the photograph shall be solely for news editorial use only, no charge should be made for the supply, release or publication of the photograph, there shall be no commercial use whatsoever of the photograph - including any use in merchandising, advertising or any other non-editorial use, the image must not be digitally enhanced, manipulated or modified in any manner or form and must include all of the individuals in the footage when published. THE PHOTOGRAPH SHALL NOT BE USED AFTER FRIDAY, OCTOBER 14, 2022.) In this handout image issued by Buckingham Palace, Camilla, Queen Consort, King Charles III, Prince William, Prince of Wales and Catherine, Princess of Wales pose for a photo ahead of their Majesties the King and the Queen Consort’s reception for Heads of State and Official Overseas Guests at Buckingham Palace on September 18, 2022 in London, England. (Photo by Chris Jackson/Getty Images)

Just as King Charles has been preparing for the role of monarch his entire life,Prince Williamis"fully immersing himself" in the role of Prince of Wales. He’s also the Duke of Cornwall, which comes with Duchy of Cornwall, an estate of farmland, property and commercial businesses worth around $1.3 billion. Last year, it provided Charles with an income of around $25 million.

“He is going to very much take an active role in it,” a royal source tells PEOPLE.

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In Oct. 2019,Prince Williamsaid he would follow in his father’s footstepswhen it came to the Duchy of Cornwall.

“I’ve started to think about how I will inherit the Duchy one day,” William told farmers inPrince Charles: Inside The Duchy of Cornwall. “Well, rest assured I’m not going to rock the boat; I’ll do much the same as what my father’s doing. I’m not so into the architecture — that’s the only thing.”

source: people.com