“We feel incredibly lucky to have come together at this juncture in our lives when our collective successes and failures can serve as building blocks for a healthy and happy relationship,” reads Paltrow and Falchuk's statement.
GMA also shared a cute video of the newly engaged couple. In the snippet, Falchuk quips that they are most likely to argue over where to have dinner.
News broke of Paltrow's engagement in November, though a source told ET that the couple had actually been engaged for a year but chose to keep it a secret.
The 45-year-old actress was formerly married to Coldplay frontman Chris Martin for 11 years before the two split in 2014. The exes have remained amicable, co-parenting their two children together, 13-year-old daughter Apple and 11-year-old son Moses. Meanwhile, American Horror Story executive producer Falchuk, 46, was also previously married to Suzanne Falchuk, whom he shares two kids with -- Isabella and Brody.
In the magazine, Paltrow reveals why she decided to get married again. "Personally, at midlife, I have tried to accept how complex romantic love can be," she says. "I have decided to give it a go again, not only because I believe I have found the man I was meant to be with, but because I have accepted the soul-stretching, pattern-breaking opportunities that (terrifyingly) are made possible by intimacy."
The Oscar winner also shares what she's learned from her past relationships as well as the new outlook she has on divorce. "I’m actually the only one in my life who got divorced," she explains. "This used to feel like a failure; it took me a while to reframe that divorce isn’t a failure."
Paltrow adds, "I had two typical types of relationships: one where I was constantly chasing and trying to win someone over, and one where I was put off by the person’s capacity for the relationship—and those relationships were very short-lived."
As for how she learned to overcome her intimacy and communication issues, the mother of two admits, "For the first time, I feel like I’m in an adult relationship that is sometimes very uncomfortable—because he sort of demands a certain level of intimacy and communication that I haven’t been held to before. What came up in the first couple of years of our relationship was how incapable I was in this realm -- how I feared intimacy and communication."