Friends tell PEOPLE in this week's cover story that the exes will continue to be involved in each other's lives as co-parents of James' kids Sunny, 6, Jesse Jr., 12, and Chandler, 15. The divorce's completion also clears the way for Bullock to finalize her adoption of 6-month-old son Louis.
"It's not like they're talking every day, but they're in touch about things," a source tells PEOPLE. "It really seems like it's about the kids more than anything."
For her part, Bullock, 45, has been "chilling out" in New Orleans and Austin with Louis. And James, 41, has made it clear that he plans to move to Austin as well.
"He has a goal," says a James pal. "He wants his life back, he wants some sense of normalcy and his family back."
For much more on this story, pick up this week's new issue of PEOPLE, on newsstands Friday