"Your Majesty will still be in direct controll, but we will need someone to be the new King or Queen, even if in name only.
We would like to ask your Majesty's thoughts on the matter. Who should be chosen? And how will we chose them?"
It didn't seem like that terrible of an outcome and you decided to just go along for now.
But they brought up a good point and you weren't sure what to do.
Should you just choose someone?
Maybe have a random drawing?
You thought that having a Tournament also might not be a terrible idea.
There was also the option of randomly picking one of the Nobles.
And the though of randomly picking one of the nobles brought you to the idea of simply picking someone who seems suitable off the street.
Or you could just have the Nobles choose.