Prince Felipe of Spain, Princess Letizia of Spain, Princess Leonor, Princess Sofia, Queen Sofia of Spain, Princess Elena, Froilan, attended the King Juan Carlos of Spain signs the Act of Abdication at the Royal Palace on June 18, 2014 in Spain. King Juan Carlos of Spain is abdicating the throne after a 39 year reign and hands the throne to his son Prince Felipe of Spain who will be sworn on June 19, 2014 ahead of a joint session of parliament.