The couple ended its six-year marriage in 2003, but The Talented Mr. Ripley star reveals the former lovers have an amicable relationship and frequently travel together as a family - with kids Rafferty, 16, Iris, 12, and Rudy, 10.
He tells The New York Times Magazine, ""We made a decision very early on that whatever our opinion of each other (is) - which I have to say is a good one - we were going to maintain the function of the family.""
Law also lives close to the actress/designer in London, so shuffling their kids back and forth as part of their custody agreement is as easy as possible - and the British hunk knows he's lucky to have such flexible visitation rights.
He adds, ""I would not have been able to have the usual kind of paternal-role situation of one weekend every two weeks. I enjoy it so much.""