His sister Violet and her elder son Mark both became Life Peers. Raymond's son Julian succeeded his grandfather as 2nd Earl of Oxford and Asquith. Other relatives include the late director Anthony Asquith (a half-brother), the actress Helena Bonham Carter (granddaughter of Violet Asquith), the writer John Joliffe (grandson of Raymond Asquith, and nephew of the 2nd Earl), and the late Liberal politician Jo Grimond (who married Raymond Asquith's niece, a daughter of Violet).