Bolton is the father of three daughters (Isa, Holly and Taryn) born during his 1975-1990 marriage to Maureen McGuire. Between 1993 and 1995, he dated Desperate Housewives and Knots Landing actress Nicollette Sheridan. A decade later, the couple resumed their relationship. In late February 2006, Bolton announced that he and Sheridan were engaged. Bolton stated in a subsequent Larry King interview that he and Sheridan have not yet married though the two have been living as a married couple. They have yet to set a date for their wedding

The couple currently resides in Westport, Connecticut.