"We recently reached an agreement on all outstanding issues related to our divorce settlement and all pending litigation," the couple said in a joint statement to Us Weekly on Thursday. "Our first priority is our children's well-being and happiness. As their parents and advocates, that is our goal. Our children are our most important treasures and need to be treated with the respect and privacy they deserve."
The couple, who filed for divorced in August 2012 after 10 years of marriage, had reportedly been arguing over the education of their eldest son, Gavin. According to TMZ, Nassif wanted Gavin, who has learning and attention issues, to attend a special school, while Maloof wanted him to continue at his regular school.
Nassif reportedly withdrew his claim before the agreement was reached.
"We're happy to be moving forward with our lives in a positive way not only individually but as co-parents," the couple's statement read.
"This is a new beginning for each of us. Our goal is for our children to have stable and nurturing relationships with both of us so we can all find as much happiness as possible. We appreciate the good wishes we continue to receive from our supporters around the world."
Notable deaths of 2014 [PHOTOS]