Reese WitherspoonandJim Tothare divorcing on good terms.

A source tells PEOPLE the two “really are the best of friends” after they announced their decision toend their marriageon Friday.

“This is such an amicable decision,” the source says. “They are so committed to co-parenting together. They are invested in their whole family and making this as smooth as possible for everyone.”

Witherspoon, 47, and Toth, 52, announced their divorce in a joint statement on Friday, days before their 12-year wedding anniversary this Sunday.

“We have some personal news to share… It is with a great deal of care and consideration that we havemade the difficult decision to divorce,” they said. “We have enjoyed so many wonderful years together and are moving forward with deep love, kindness and mutual respect for everything we have created together.”

Todd Williamson/NBC/NBCU Photo Bank/Getty

Jim Toth and Reese Witherspoon arrive to the 77th Annual Golden Globe Awards held at the Beverly Hilton Hotel on January 5, 2020

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“Our biggest priority is our son and our entire family as we navigate this next chapter,” they added. “These matters are never easy and are extremely personal. We truly appreciate everyone’s respect for our family’s privacy at this time.”

Witherspoon and Tothannounced their engagementin December 2010, and they later wed in March 2011. They share 10-year-old sonTennessee, and Witherspoon also shares two kids with ex-husbandRyan Phillippe: daughterAva, 23, and sonDeacon, 19.

Jim Toth and Reese Witherspoon in 2018.Michael Kovac/Getty

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Shemarked their 11th wedding anniversarylast year on Instagram, writing at the time, “Happy Anniversary JT!! 11 years of adventures, love & laughter. I feel so lucky to share this wonderful life with you.”

source: people.com