Elizabeth was in a relationship with actor Joseph D. Reitman for 10 years, including three years of marriage. The couple separated in March 2005, and Elizabeth filed for divorce in late June 2005. Some media outlets speculated that the cause of their breakup was Reitman assisting in a practical joke on Elizabeth for Ashton Kutcher's (who played her on screen boyfriend Michael Kelso in That 70s Show) MTV television series Punk'd, a year before their divorce, which involved leading Elizabeth to think that she was caught on a sex tape.

Animal Avengers, a non-profit animal rescue organization founded by Elizabeth and her then-husband Reitman, is dedicated to rescuing and finding a home for homeless pets, reducing pet overpopulation, promoting responsible pet guardianship and preventing animal cruelty. Among the many fund raising events, Team Bodog raised over $50,000 for Animal Avengers in a celebrity poker night on October 8, 2005. The event was hosted by noted tournament direct