Nicky Hilton has just welcomed her first baby, and OMG this little girl has one adorably impressive name. Skipping the weird, wonky and wonderful monikers that some famous peeps choose for their itty bitty bundles of joy, the younger Hilton sister has opted for a name that is perfectly lovely and totally traditional. With an instantly recognizable last name (no, not Hilton) this little one has already inherited quite the legacy as the newest member of both the Hilton and Rothschild families.

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32-year-old Nicky welcomed Lily Grace Victoria Rothschild into the world today, with hubby and banking heir James Rothschild in tow. It鈥檚 safe to say that with her pedigree, Lily has been born into a gilded world of lavishness.

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Nicky鈥檚 big sis, reality star (or, err, former reality star) Paris Hilton, broke the news about the baby being a girl earlier in the year when she accidentally spilled the info while talking about how thrilled she was. She told Us, 鈥淚鈥檓 so excited for the baby. She鈥檚 going to be such a beautiful little girl, and I can鈥檛 wait to meet her.鈥 And we can鈥檛 wait for the first pics!

Welcome to the world, baby Lily.

What do you think life will be like for this little Hilton-Rothschild? Tweet us @britandco!

(h/t Us; photos via Ben Gabbe/Getty)