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- The 75-year-old monarch made her announcement in January
- Queen may be abdicating to spend time with son, who's in a coma
- The queen-to-be's father, a former Argentinian minister, will miss investiture
(CNN) -- Queen Beatrix of the Netherlands abdicated the throne on Tuesday, ending 33 years as the country's monarch and paving the way for her eldest son, Willem-Alexander, to become the first Dutch king in more than 120 years.
The 75-year-old monarch handed over power in a constitutionally ordained ceremony. The transfer became official as she signed the "instrument of abdication."
In a televised address Monday night, the queen said she knows the new royal couple will have the loving trust of the nation.
"My oldest son will now take over a beautiful task which is filled with great responsibility," the queen said. "I am absolutely convinced that Willem-Alexander will be committed in faithful devotion to be a good king and to do what a good King is asked to do."
Beatrix stepped down on the national holiday known as Queen's Day, an opportunity for people across the Netherlands to dress up and party. The investiture of the new king will be the high point of a year of celebrations marking the end of the Napoleonic occupation in 1813.
The queen announced her abdication in January, saying it was time for a new generation to lead.
"I have always considered it as an extraordinary privilege to be able to put a big part of my life at the service of our country and in accordance with my task to add substance to my kingship," said Beatrix, who acceded to the throne when her mother, Queen Juliana, abdicated in 1980.
"Until today, this beautiful task has given me a lot of satisfaction. It is inspiring to feel close to people, to sympathize in grievances and share times of joy and national pride."
The Dutch media has speculated that the queen was abdicating to spend more time with her second son Friso, who was injured in an avalanche at an Austrian ski resort last year. He remains in a coma in a London hospital.
A king for the 21st century
Prince Willem-Alexander, 46, was educated in Wales and Holland, where he earned a history degree at Leiden University. He served in the Dutch Royal Navy from 1985 to 1987. As Prince of Orange -- the title given to the person first in line to the Dutch throne -- he has been interested in sustainability and innovation.
He is married to Princess Máxima, who was born in Buenos Aires, Argentina. She has a degree in economics and has worked for HSBC and Deutsche Bank. The couple have been married for 11 years and have three daughters.
Last week, the couple gave their first joint TV interview in which Willem set out how he intended to rule.
"I want to be a king who is first of all traditional, built on the tradition of my predecessors, who stands for continuity and also for stability in the country ... but also a king who in the 21st century can bind together and represent society as a whole."
Asked how he intended to do that, Willem told the NOS state broadcaster: "By being present where you think people need support or help, by giving extra attention and presence to worthwhile events and by supporting people who are in need."
Notable absence
One notable absence at Tuesday's ceremony will be the new queen's father, Jorge Zorreguieta, who was a minister during the 1976-1983 Argentinian military dictatorship.
Princess Maxima said her family would not attend her swearing-in as queen because of her father's controversial past.
"This is a constitutional event, when my husband becomes king and my father doesn't belong there, especially if there are issues," the princess told NOS. "He remains my father, we still enjoy our private moments."
READ MORE: Why Elizabeth isn't abdicating
CNN's Stefan Simons and Brian Walker contributed to this report
