Halldór has been married to the beautiful Björg Davíðsdóttir for the last 38 years and has five children and four grandchildren.

Halldór, his sister Guðrún Margrét Pálsdóttir along with 6 others founded ABC Childrens Aid in 1988, which has become the largest international childrens aid organization in Iceland.

Halldór hefur unnið við uppbyggingu á Samhjálp hjálparstarfi fyrir drykkjusjúka (link: www.samhjalp.is) og verið starfsmaður Rauðakrossins (link: www.raudikrossinn.is) í þrjú ár.