Queen Beatrix of the Netherlands Announces Abdication
01/28/2013 AT 02:15 PM EST
Her abdication will take place April 30, reports the BBC.
In delivering her message, she said it was time to step down in favor of "a new generation." Her son, Prince Willem-Alexander, 45, will take her place.
Married with three young children, he will become the Netherlands' first king since Willem III, who died in 1890.
Other family members have traditionally abdicated around the same time as Queen Beatrix. Her mother Juliana resigned on her 70th birthday. Her grandmother Wilhelmina abdicated when she was 68.