Oh, sorry about my description. I cut the bottom 6" of the bucket off, and use just the bottom 6". So, it's a 6" deep pan the diameter of the bucket. I can get these buckets free at the local grocery store bakery. They throw them away, and you just ask and they will save them for you, lid and all if you want it. Free is free!!!
I have shelves in my ponds built that way just for lily and other plant pots. In the deep end, I use shelves (the plastic type that stack, cheap, get them at Wal-Mart or Menards) and turn them upside down and put the pots on them. That way no pots are more than 2' below surface. However deep you put them, that's how far the leaves will grow to reach the surface. To me, ideal is at least 12" from the surface.
That's a great idea to have the handle. I can reach most of my lily pots by leaning over the edge of the pond. The ones I cannot reach, or if they fall off the shelves, I use a hoe and being very careful, get the pot up on the hoe, and then pull it up and out. Since the pot is more weightless in the water, it's pretty easy to do this way.