Will Prince Charles Choose to Be King Charles III or Take a Different Name?

The moment Queen Elizabeth II died on Thursday, Prince Charles became King of the U.K. There were questions about whether or not he would keep his name or take a new one, but he reportedly chose to be known as King Charles III. His coronation will take place at a later date.

King Charles, 73, and his wife, Camilla, Duchess of Cornwall, were referred to as "The King and The Queen Consort" in Buckingham Palace's announcement of his mother's death. They will remain in Balmoral, Scotland before returning to London on Friday. King Charles mourned his mother's death in his first official statement as sovereign. Moments later, the Associated Press reported that Charles will be known as "King Charles III," reports the Associated Press.

There was speculation in the U.K. that the former Prince of Wales might choose a new name, as is his right. As the Mirror pointed out in April, Charles could have chosen any of his four given names – Charles Philip Arthur George – as his regal name. If he went with George, he would have become King George VII.

"Normally royal children have two or three names. The reason is, if possibly that child was to become a king or queen, they have to have a kind of pool to choose from," former royal butler Grant Harrold told Studio 10 in 2005. "For example, Prince Charles, if and when he becomes king, would be – people assume he would be Charles III. But he could technically be George VII because George is in his name."

There are "negative connotations" with the name Charles for kings. King Charles I took the throne in 1625 and is infamous for having dismissed Parliament for 11 years. There were two civil wars during his reign and he was tried, convicted, and executed for high treason in 1649.

The British monarchy was not restored until Charles' son, King Charles II, took the throne in 1660. Charles II was a popular King, even earning the nickname "Merry Monarch." However, his personal life was filled with controversy. He acknowledged at least 12 illegitimate children from different mistresses. He had no legitimate children, leaving his brother, King James II, to take over.

Charles has been a controversial figure throughout his life, and there were even calls for him to abdicate so his popular eldest son Prince William, 40, could give the U.K. a younger face. However, the royal family is known for sticking to tradition and that is unlikely to happen. "He's waited for this, and he's sure he can do a good job of it. People suggest that Charles will abdicate because William and Kate [Middleton] are more popular," Kate Williams, author of Young Elizabeth: The Making of the Queen, told PEOPLE. "That's not the case. He's absolutely convinced he can do a good job of it."

Charles' coronation will likely not take place for at least a year. Queen Elizabeth's coronation was over a year after her father, King George VI, died in February 1952.