$4m yachts, Aston Martin: Inside will that sparked war for SA tycoon’s empire

Multimillion-dollar yachts, luxury Rolex, Cartier and Tag Heuer watches and an Aston Martin DBS. This is the will that triggered a family war over Aussie tycoon Richard Collins’ empire.

The details of Richard Collins’ will have been revealed.

The will that’s triggered a bitter family war over the empire of Jarvis Group’s Richard Collins has revealed how the South Australian business titan wished to carve up a long list of luxury items, including two multimillion-dollar yachts, an Aston Martin, and Rolex, Cartier and Tag Heuer watches.

Mr Collins’ three children Daniel Collins, 41, Stephanie Matern, 38, and Elizabeth Henseler, 37, are handed control of the lion’s share of Jarvis business and property assets in Mr Collins’ will, which has been granted probate and filed in the Supreme Court.

In a late amendment made just a week before Mr Collins’ death, he expresses a wish that his three children continue to operate the Jarvis Group – one of Australia’s largest privately-owned automotive groups.

But in the event they decide to sell the business, he requests that $10m from the sale proceeds be set aside in a trust from which widow Joanna Collins “benefit from the income for her lifetime”.

Joanna and Richard Collins were together for more than 30 years.

Jarvis Group’s new and used car sales business and its expansive property holdings are worth well in excess of $100m, and include flagship sites at Trinity Gardens and Enfield, and two new $30m showrooms for Ford, Subaru and Toyota at Gepps Cross and Brighton.

Ms Collins, the second wife of Mr Collins, has launched legal proceedings to protect her interests in two family trusts and a super fund by stripping control from her three stepchildren while she considers a formal court claim against the estate.

The three siblings are executors of their father’s estate.

One of two $4m yachts at the centre of a family dispute over the estate of Jarvis Group’s Richard Collins following his death in August. Picture: boatsonline.com.au

In the will, obtained by The Advertiser, Ms Collins is handed full ownership of the North Adelaide mansion she shared with Mr Collins prior to his death, as well as income generated from shares and investments held in various trusts, but not the underlying assets.

She is also handed Mr Collins’ Rolex, Cartier and Jaeger watches.

Her stepchildren share Bertolucci and Tag Heuer gold watches, and a Dent Clock, with Ms Matern offered first rights to a luxury Aston Martin DBS.

An Aston Martin DBS was to go to one of Mr Collins’ daughters.

Several luxury watches including a Jaeger were in the estate.

Control of two $4m yachts in Adelaide and Sydney is also handed to the three siblings, but that is being challenged by Ms Collins in the current legal proceedings, which seek an injunction against any sale of the yachts while she considers a formal challenge to the estate.

The Sydney motor yacht – a 2018 Grand Banks 60 Flybridge named ‘Dolce Vita’ – is currently listed for sale by Palm Beach Motor Yachts in Sydney. The broker has been contacted for comment. The Collins family also owns a Palm Beach 65 motor yacht in Adelaide.

The 2018 Grand Banks 60 Flybridge, Dolce Vita yacht owned by Jarvis Group’s Richard Collins before his death in August.

Mr Collins’ children argue their father had been looking to sell the yachts prior to his death, and current negotiations with interested buyers would be compromised by any injunction against their sale.

Mr Collins’ estate is valued at around $19m, but that figure excludes the Jarvis Group business empire and property holdings held in other trusts and corporate vehicles. Ms Collins is considering an additional claim over those assets.

Richard and Joanna Collins pictured with Pamela Anderson at the PETA 35th birthday gala event in LA in 2015.

Mr Collins died on August 15 at the age of 74 after a brief illness. He took over the Jarvis business in 1984 and transformed it from a single showroom in Trinity Gardens into one of Australia’s largest privately owned automotive groups overseeing a network of eight dealerships.

Ms Collins is a successful businesswoman in her own right, running upscale beauty salon and day spa A Touch of Beauty for close to 40 years.

The Jarvis empire is estimated to be worth in excess of $100m. Picture: Tim Joy

The couple - who were together for over 30 years - were once described as the “most charitable socialites going around”, supporting a long list of animal welfare, children’s charities and other causes including the Orangutan Foundation International Australia, Animals Asia Foundation, the Jane Goodall Institute, Variety and The Green Gecko Project in Cambodia.

In recognition of their work, they each received the Member of the Order of Australia in 2021.

Originally published as $4m yachts, Aston Martin: Inside will that sparked war for SA tycoon’s empire