Then-Bruins head coach Don Cherry suggested that the reason Orr never re-signed with the Bruins was Orr's complete trust in Eagleson at the time (Orr said that he described Eagleson as a brother). Cherry recalled Orr had refused to speak with the Bruins team president directly, allowing Eagleson to mislead or withhold enough details from Boston's offer. Orr's departure from the Bruins was acrimonious and he has not held an official role with the Bruins since. Years later, it emerged that Eagleson had very good relations with Black Hawks owner Bill Wirtz and NHL president John Ziegler that colluded to hold back salaries of certain players. Orr disassociated himself from Eagleson in 1980.
Shortly after Orr retired, an independent accountant revealed that Orr's liabilities exceeded his assets, leaving him essentially bankrupt despite being supposedly one of the highest-paid players in the NHL. As well, Orr's taxes were under review. Eagleson had set up a corporation to receive Orr's income and pay Orr a salary, but the arrangement was rejected by US and Canadian tax authorities. His assets in July 1980 totalled US$456,604 (US$1,608,477 in 2019 dollars) and his tax, legal and accounting bills totalled US$469,546 (US$1,654,068 in 2019 dollars). Eagleson, who had once said Orr was 'fixed for life', criticized Orr for 'living beyond his means' and ignoring his investment advice. Orr split with Eagleson on April 1, 1980. As part of the legal settlement with Orr, Eagleson agreed to purchase various assets of Orr's for US$620,000 (US$1,923,853 in 2019 dollars), including his Orr–Walton Hockey Camp, which paid off US$450,000 (US$1,396,345 in 2019 dollars) of Orr's bank loans.
Orr later played a role in the exposure of Eagleson's misconduct over the years. He had once considered Eagleson a "big brother", but broke with him in 1980 in part because he suspected that Eagleson had not been truthful with him. In addition to misleading his clients about contract terms, Eagleson fraudulently used NHLPA funds to enrich himself. Orr was one of several players who filed a formal complaint of legal misconduct against Eagleson with the Law Society of Upper Canada over Eagleson's lending of trust monies without the consent or knowledge of his clients. In 1998, Eagleson was convicted of fraud, embezzlement and racketeering. After the conviction, Orr was one of eighteen former players who threatened to resign from the Hockey Hall of Fame if Eagleson was not removed as a builder. Facing almost certain removal, Eagleson resigned instead.
Orr is also well known for his charitable works, although he kept mention of them out of the press. Former Eagle-Tribune writer Russ Conway noted of one occasion when Orr and Conway visited Boston Children's Hospital, with a box of programs, pennants, pucks, pictures and Boston memorabilia: "We went from room to room, Orr popping in, unannounced to visit the kids. Some couldn't believe their eyes; sick as they were, they laughed in astonishment and delight. Bobby Orr! He talked and joked with every one of them, asking names, rubbing heads, giving everybody a little present from the box, leaving a stick, autographing everything in sight." Orr made Conway promise to not print a word in the newspaper. Orr was involved in numerous charity fund raisers. In 1980, Orr was awarded the Multiple Sclerosis Silver Hope Chest Award by the Multiple Sclerosis Society for his "numerous and unselfish contributions to society".