Florida-based attorney and political figure John Morgan, best known as the co-founder of personal injury law firm Morgan & Morgan, shared in a recent appearance on the Earn Your Leisure podcast that his children must ask their spouses to “sign a prenup” or they’ll only receive $1 million annually.John Morgan, 70, shares four children with his wife and fellow lawyer Ultima Degnan (another co-founder of the family firm), including sons Mike, Matthew, and Daniel, and daughter Katie.“50 percent of all marriages are going to end in divorce. That’s just raw numbers. It’s going to happen… Now, an interesting statistic is, for people who marry after 30, it’s only 4 percent. Have your fun in your 20s because it’s probably going to happen 50 percent of the time,” John Morgan was heard saying.One of the hosts asked:“Let’s say hypothetically, one of your children was like, ‘You know what, I’m getting married and I’m not going to get a prenup.’ How would that work?”John Morgan replied:“Then they don’t get anything… They get like a million bucks a year, which is not bad… You’re never getting the big haul. You’re not getting a big lump sum. You’re going to get enough to survive. But I am not… And by the way, especially if she won’t sign it, then you’re definitely not getting it.”According to Forbes, John Morgan’s real-time net worth is $1.5 billion.All you need to know about John Morgan’s childrenJohn Morgan met his wife, Ultima Degnan, at church in Gainesville, FL, in the late 1970s. Back then, both were studying law at University of Florida. They tied the knot in May 1982 and went on to welcome four children.Since 1988, Morgan had been the founding partner at Morgan, Colling, & Gilbert, but in 2005 he bought out his partners’ shares and rebranded the firm as Morgan & Morgan, with Ultima becoming his partner.Today, all three of his sons are lawyers and work at the family business. They own half of the $2 billion (as per 2023 revenue) while the rest is owned by 139 equity partners.In a 2025 interview with Business Insider, John Morgan shared that he taught his children to value money and be self-reliant despite his billionaire net worth:“I think when people start making money, they think they're a lot smarter than they actually are, and that arrogance is how they lose. And so I believe luck has had an incredible amount to do with what happened to me… These rich people buy their kids great cars; I never did. I gave them like an 8-year-old Navigator, and they had to work, and they had to pay for their insurance.”The veteran attorney mentioned that some of his children worked at WonderWorks, a chain of edutainment centers founded by him. However, Daniel began slacking off and he had to “fire” him to teach him responsibility and perspective that his last name couldn’t buy him respect; it had to be earned.“I said, 'Hey man, you're fired. And you're not going out until you get a new job,'” he recalled.Daniel “Dan” Morgan later told the outlet in an email that getting fired as a Pizza Boy for showing up late to work was embarrassing but turned out to be “one of the most important” life lessons.“The golden rule in our house was that you always had to have a job.”Dan began working for his dad at 14. After being fired from WonderWorks, he joined Boston Market but soon quit as they made him do the dishes. Back then, his father told him:“I said, ‘Think about that, Dan. They got you doing the worst job in the place. That's what they think of you.’”Subsequently, Daniel landed a job at Firehouse Subs where he “excelled” and learned the value of “humility, hard work” and punctuality.“When I eventually joined Morgan & Morgan, I started in the call center (law clerk) and had to work my way up, earning every opportunity,” Daniel, who is now a managing partner, explained.While John Morgan was busy ensuring his children grew up with principles, he also built them homes near each other at the beach, so that they could all live near each other. He said:“I would not understand life without them. Now I've got all these grandchildren, which is just another huge gift. And three of them live across the street from me.”Morgan plans to leave his fortune in a trust that his only daughter will manage in his absence. It will be used for charitable causes such as providing food, clean water, shelter, medicines, and clothing to the underprivileged community.“The money belongs to God… What we're now doing is we're taking all of our fortune, and we're going to build a permanent foundation to do just those things, and that hopefully will go on way after my death. So that's the game plan,” John explained.Meanwhile, Daniel added that he and his siblings are “living proof” that his father’s “hard lessons paid off.”He has a JD degree from Stetson University College of Law and worked as a summer intern in various companies like Relativity Media, O’Connell Sports Management, and Mark Cuban Companies.Elsewhere, Dan founded a sports agency focusing on professional basketball & football players called The Morgan Connection in December 2016. He is an associate attorney, partner, and president of the company. In 2022, John Morgan’s youngest child launched another firm called Send a Case.Besides being a managing partner and personal injury lawyer at Morgan & Morgan, Daniel is an advisor-attorney for sportspersons and celebrities in the entertainment field. View this post on Instagram Instagram PostLike his dad, firstborn Mike Morgan also has a Juris Doctor degree from the University of Florida. He has been working at Morgan & Morgan since 2009. According to his profile on the company website, he has helped thousands of clients in negotiation, mediation, litigation, and arbitration.“As a personal injury lawyer, he specializes in such cases as medical malpractice, insurance bad faith, wrongful death, defective products, premises liability, professional accidents, injuries caused by auto accidents and other personal injury cases on behalf of the victims or their families,” Mike’s bio states.As for Matt, he too has a Juris Doctor from Stetson University College of Law and attended Harvard Law School's Program on Negotiation. Besides being an integral part of Morgan & Morgan, the personal injury attorney is a frequent legal commentator/ analyst on nationally syndicated programs like Good Morning America, The TODAY Show, and CBS This Morning, among others.Ultima and John Morgan’s daughter Katie is a businesswoman and designer who is the founder and owner of women’s boutique clothing/ gift sore Violet Clover in Winter Park, Florida.It remains unclear whether all four Morgan children are married or have children.