Queen Elizabeth, 92, is alleged to have told her inner circle of plans to hang up her crown at the age of 95..
"I have spoken to a number of high-ranking courtiers who made it clear that preparations for a transition are moving ahead at pace," royal commentator for the Daily Mail, Robert Jobson, said.
"They have all confirmed that a Regency with Charles taking the lead is now, at the very least, a real possibility."The act would grant the Queen's eldest son full power to reign even while she still lives.
According to the Mail, one senior former member of the Royal Household said:"Out of the profound respect the Queen holds forthe institution of monarchy and its stewardship, Her Majesty would want to make sure that she has done everything she can for her country andher people before she hands over. She is dutiful to her core.
"Her Majesty is mindful of her age and wants to make sure when the time comes, the transition of the Crown is seamless."I understand the Queen has given the matter considerable thought and believes that, if she is still alive at 95, she will seriously consider passing the reign to Charles."
Queen Elizabeth II who ascended the throne in 1952 is Britains longest reigning Mornach.If she passes the throne to Prince Williams, he will become the oldest-ever UK monarch to be crowned.But if he also decided to abdicate, the throne would be passed on to his eldest son, Prince William, who is currently second in line.