Hespeler was married three times. After the death of his third wife in 1920, Hespeler moved to Vancouver to live with his son Alfred. He died the next year at the age of 90. Hespeler Avenue in Winnipeg's East Kildonan ward was named for William Hespeler. There are also Hespeler Roads in the RM of Stanley, Steinbach, Manitoba, the Rural Municipality of Hanover, Gretna and a Hespeler Park in Niverville that are also named after him.
