In 2002, she married actor Charlie Sheen, with whom she appeared in Scary Movie 3, in which she played his character's wife who was pinned to a tree in a car accident. They have two daughters, Sam J (born March 9, 2004) and Lola Rose Sheen (born June 1, 2005).

In March 2005, Richards filed for divorce from Sheen. The couple briefly reconciled and were seeking marriage counseling to mend their relationship. However, on January 4, 2006, Richards' representative announced that she was continuing with the divorce, and she later sought a restraining order against Sheen, citing his alleged death threats against her. Richards briefly dated Bon Jovi guitarist Richie Sambora shortly after their respective separations from Sheen and Heather Locklear, ending what Locklear had considered to be a close friendship. Richards once dated actor Patrick Muldoon; she has also been linked to actor John Stamos, whom she dated during her teenage years. In May 2008, Richards was allegedly linked to