The Duke of Cornwall is a title traditionally held by the eldest son of the reigning monarch of the United Kingdom. Established in 1337, it is one of the oldest titles in British nobility. The Duke of Cornwall has specific responsibilities, including managing the Duchy of Cornwall, a portfolio of land and assets that generates income for the titleholder. The title is automatically conferred upon the heir apparent, which means that when a new monarch ascends the throne, their eldest son becomes the Duke of Cornwall. This title is separate from the title of Prince of Wales, which is also typically granted to the heir apparent.