• Prince Charles and Prince William plan to "guide each other" on their respective paths to the British throne, a report says
  • The Duke of Cambridge reportedly will "be taking on extra duties over the next decade" while preparing to be king
  • Prince Charles is reportedly confident Prince William "knows what he's doing" but will be there to help along the way

Prince William and Prince Charles have the same vision for the future of the monarchy and are working closely together to achieve it, a report says.

Prince Charles, who will take the throne after Queen Elizabeth II, and his eldest son Prince William, the second in line to the British throne, plan to "guide each other" while preparing to be king, Us Weekly reported, citing an unnamed source.

"William is excited about this new chapter in his life and the challenges he'll be facing," the insider said, adding that the Duke of Cambridge, 39, will "be taking on extra duties over the next decade" on his path to the throne.

The insider added that the father and son are "working very closely" together as they prepare for their future responsibilities. Prince Charles and Prince William also made "the big decision [of] making and creating a slimmed down monarchy," the source claimed.

"The way William and Charles see it, less people means less drama," the insider told the outlet.

According to the source, the Prince of Wales is confident that Prince William "knows what he's doing." However, Prince Charles plans to be there for his eldest son to help him along the way, per the insider.

"[Charles] will ensure that his son is up to speed the ins and outs of the royal family on a deeper level and William will help Charles come up with new, fresh ideas about modernizing the monarchy," the source said, adding that both royals want "to be as fully prepared as possible" for the end of the Queen's reign.

Kate Middleton's husband "has high ambitions to be known as the People's King," the source claimed. Due to this, Prince William is "creating the perfect balance of being relatable to the public at the same as being a respected role model and decision-maker," the insider said.

Royal biographer Kristin Contino, author of "A House Full of Windsor," previously said that Prince William has been playing a significant role in the Queen's decision making. He was reportedly involved in the decision to strip Prince Andrew of his titles and royal duties after the Duke of York faced a sexual assault lawsuit. Prince Andrew settled the lawsuit out of court earlier this month for an undisclosed sum.

"William, in fact, was very involved in this decision, and it's been said that he met with the queen in person ahead of their announcement that came out last week," Contino told Us Weekly.

She noted that the move shows Prince William's growing influence. At the same time, it also proves that the Queen trusts his judgment, according to the royal expert.

"I think that's a great sign of things to come for William and how much she is relying on talking to him and his counsel," she added.

Queen Elizabeth is the longest-reigning monarch in British history. Earlier this month, she celebrated her Platinum Jubilee, marking 70 years on the throne, and made a big announcement about the future of the monarchy.

In a letter released Feb. 5, the Queen said it was her "sincere wish" that Duchess Camilla be known as queen consort when Prince Charles becomes king.

Following the announcement, a source told Us Weekly that Prince Charles, who married Duchess Camilla in 2005, "is over the moon" about ruling with his wife by his side, adding, "It's a dream come true."

Prince Charles, Kate Middleton and Prince William
Prince Charles, Kate Middleton and Prince William during a visit to Dumfries House on March 5, 2013 in Ayrshire, Scotland. Getty Images/Danny Lawson