Tom Cruise & Katie Holmes: Inside Their Lives as Single Parents

07/21/2012 at 12:00 PM EDT

Tom Cruise

Tom Cruise

In just three weeks, Tom Cruise and Katie Holmes's lives have significantly changed.

Following Holmes's bombshell divorce filing on June 28, newly single Cruise, 50, flew to New York City to be by his 6-year-old daughter Suri's side. (Holmes reportedly has sole physical custody of Suri, though Tom gets generous visitation.)

"We're taking a look at the life of the world's biggest movie star, Tom Cruise, and how he's moving on with life as a single dad," PEOPLE senior writer Jennifer Garcia says, of this week's cover story. "When you read this week's PEOPLE magazine, you're also going to get a glimpse into Katie's life, and how she's moving on as a single woman."

"While Tom and Katie haven't spoken yet, both parties realize they are going to have to be in touch for many, many years – and this is, of course, [is] for the sake of their daughter Suri," Garcia says. "This week's issue will detail how these stars are moving on."

For much more on this story, including details on Tom's trusted inner circle, how he's coping and Holmes's new life, pick up the new issue of PEOPLE, on newsstands now

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