Elizabeth Lane was the daughter of John and Elizabeth Pollard, who purchased Baldon manor in the early 1700s. By 1712 Elizabeth, not yet married, became the lady of the manor. She married Dr John Lane, a Bristol dealer in copper and lead. Dr. Lane was declared bankrupt in 1726 and the manor was purchased by a relative and subsequently put into a lifetime trust for Mrs Lane and her husband. She once again became the lady of the manor for the next 60 years. Her husband John died in 1740 and she lived as a widow at Baldon manor for the next 31 years.
On her death in 1771 she left a bequest, in trust, for the founding of a school in order to teach six poor boys and six poor girls to read. This legacy lives on as The Elizabeth Lane School Foundation (ELSF), a charity whose objective is to apply the income towards benefits for Marsh Baldon CE Primary School. It has since widened its remit to include, for example, awarding of grants to provide various types of financial assistance to local children and young persons under the age of 25 who have attended the school for not less than 2 years.
Within St Peter’s Church, Sir Christopher Willoughby had a plaque placed in memory of his friends and relatives, including John Lane and Elizabeth Lane. Sir Christopher also commissioned a memorial carved stone urn in her honour, erected in the grounds of Baldon House.