And while their friendly outings have raised some speculation of a reconciliation, a source tells E! News that the two have simply "found something that works," adding that we all should expect to see more of the consciously uncoupled pair.
"Their relationship is better than ever since they separated," a source tells us of Oscar winner and the Coldplay musician, who announced their separation in March. "They have found something that works really well for them and their children."
The parents of Apple, 10, and Moses, 8, have been able to maintain a mutual level of respect since calling it quits and have even supported each other in their subsequent relationships (Martin was most recently linked to Jennifer Lawrence, although the two broke up last month, while Paltrow has been seen out on numerous occasions with Glee co-creator Brad Falchuck).
"They are best friends and there is a ton of love and respect between them," the source explains of the Hollywood duo. "Because they have made a commitment to put their kids first and keep the family unit together as much as possible, the pressure is off the marriage and trying to figure out how they work as a couple. Now they spend a lot of time together as a family, but they also have their own lives with no questions asked."
Martin and Paltrow have been recently seen spending time together in both Dallas and NYC and, in order to keep things consistent for their children, they even have neighboring homes in Malibu, Calif.
"They spend a lot of time coordinating their schedules so that one of them is with the kids at all times," the insider reveals. "If Gwyneth has business in London, she makes every effort to schedule it when Chris can be with the kids and vice versa. They also do a lot of family stuff together and support each other in their careers."
Clearly, as fans of the former couple have witnessed, the pair's children will always come first.
"On weekends if one of them has the kids and the other doesn't have plans, they will meet up and do something altogether," the source reveals, adding, "They truly love one another and think the world of each other, they just aren't a couple. They will spend the holidays together and make sure the kids know they are always going to be a family."
Earlier this year, Martin opened up about his relationship with Paltrow post-split in an interview with the Valentine in the Morning radio show, saying, "The thing we told everyone at the beginning of the year is true. We are very close. We are not together...You know, there's a lot of love. No scandal, I'm afraid. I wish I could give you scandal."