Pope Benedict XVI Gets a New Title and Red Prada Shoes

Pope Benedict XVI new title is not the only change he will be making. The former leader of the Catholic world will have to give up his ring and his stand out red shoes.

The Pope's Prada slippers will be passed onto his successor and Benedict will wear a pair of brown loafers that were given to him on a visit in Mexico, the Vatican states.

The Pope's ring or Papal seal as it is also known, will be destroyed with a hammer. This is done so that there can be no forged documents sent out in the former Pope's name.

This longstanding tradition is depicted in a scene in the 2009 movie "Angles and Demons."

The new Pope will receive a new ring with his own seal on it once he is elected.

Benedict must also give up the protection of the Swiss Guard. The Swiss Guard can be seen wearing brightly colored uniforms all over the Vatican. Their sole purpose is to protect the Holy Father.

Benedict XVI will give his final address from Saint Peter's square on Wednesday February 27. More than 50,000 people are expected to attend.

Pope Benedict XVI is the first Pope to abdicate the Chair of Saint Peter since the year 1415. Pope Gregory XII and Pope John XXIII were forced to renounce the papacy after the "Great Schism," a civil war that was fought when three men believed they were the rightful leader of the Catholic Church.

Pope Martin V was elected in 1417, ending the Great Schism.

A new Papal Conclave (the committee to elect a new Pope) could convene as early as next week. The Catholic Church hopes to have a new pontiff elected before Easter.