Talbot was married three times. His first marriage, which lasted for 22 years, was to Shirley Spindler, whom he met and married as a teenager in Wagga Wagga. They had three daughters and a son, Christine, Leonie, Jon and Lee. From 1973 to 1989, he was married to Janice Murphy (later Jan Cameron), who worked closely with Talbot in both her swimming and coaching careers until the end of their relationship. The only child from that marriage, Scott Talbot-Cameron, is an Olympic swimmer and coach. In 1990, he married Janet (née Henderson), a Canadian teacher; the marriage had ended by the time of his death.