11/21/2011 12:54 pm ET Updated Dec 06, 2017

Jack Wagner On Heather Locklear Split: We Still Love Each Other Very Much

Heather Locklear and Jack Wagner shockingly called off their three-month engagement earlier this month, and now Wagner is speaking out about what went wrong.

The "Melrose Place" actor revealed to TMZ that intense wedding plans dominated their lives for the past few months, leaving the couple little time to do much else.

Additionally, plans to not blend their respective families -- Wagner has two children from a previous marriage and Locklear has a daughter, Ava, with ex Richie Sambora -- made it difficult to envision a future together.

Though it's over for the couple, Wagner still claims they "love each other very much."

Wagner and Locklear, who both starred on the long-running show "Melrose Place," began dating in 2007. The happy couple announced their engagement in August, with the full support of Locklear's daughter.

"She hugged Jack, said congratulations, and she immediately wanted to see the ring," Locklear told PEOPLE about Ava's reaction to the engagement. "Then she ran and Facebooked her new stepbrother."

So, Locklear, who recently turned 50, is back on the market and judging by her slamming bikini bod, we think she'll be just fine.