We’re all used to hearing “The King is dead. Long live the King”.
In college it was always “The keg is dead. Long live the keg!”
In all seriousness, thank you Queen Elizabeth II for a life of service. While no one is perfect, as a Princess you helped inspire your nation to fight on during the darkest days of World War 2, and as Queen you provided grace and stability through the many decades of change that followed.
I don’t believe in monarchy, but if all monarchs were like you, I might think differently. May your rest in peace.
The idea is that the country is never without a monarch. The instant one dies, the next in succession takes his place.