Picon died on April 6, 1992, aged 94, from Alzheimer's disease in Lancaster, Pennsylvania. Yankel Kalich, her husband from 1919 until his death in 1975, died from cancer. They had no children. She and her husband are interred in the Yiddish Theater section of the Mount Hebron Cemetery in New York City. Also buried there is Ida Kaminska, who like Picon, operated her own Yiddish theatre.