Author: WB Admin

Lloyd Bowers-2024 Tippen Davidson Award Winner

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Join the Peabody Auditorium Foundation in congratulating Lloyd Bowers, PAF founder and Board Member, on receiving the Volusia County Cultural Alliance Tippen Davidson Award for the Arts. Please join us to honor Lloyd at the plaque hanging and presentation on November 18 at 3:00pm!

Lloyd Bowers has been a civil litigation and estate planning attorney for over forty years. He is a graduate of the University of Virginia, receiving both his undergraduate degree in Theater and his Juris Doctor degree from the School of Law.

Throughout his career, he has been an advocate for the arts. While in New Orleans, Lloyd was instrumental in creating the Volunteer Lawyers for the Arts project, which provided free legal services to both arts organizations and artists in the New Orleans community, and was named by New Orleans magazine as one of the City’s “People to Watch” for his impact on the arts.

In 1995, he moved to Daytona Beach, Florida, to practice law with Chris Wickersham, and formed the law firm of Wickersham & Bowers. After meeting Tippen Davidson, who encouraged Lloyd to join the Board of Trustees of Seaside Music Theater, he served for eight years on the board, both as Chairman and as the board’s leader on the Fund Development Committee. In 2002, he formed the Mystic Krewe of the 12th Night Revelers, which sponsors an annual Mardi Gras Ball to support arts and cultural organizations in Volusia County.

He has served on the Charter Review Commission for the City of Daytona Beach, and in 2012, was appointed by the Mayor as his representative to the Peabody Auditorium Advisory Board. In that same year, he was appointed by Volusia County Council Member Josh Wagner to serve as his representative on the Volusia County Cultural Council, and he continues to serve in both positions.

In 2011, he met with city officials to discuss the need for a separate non-profit organization to support the Peabody Auditorium, and through his leadership and the combined efforts of city and local volunteers, the Peabody Auditorium Foundation, Inc. was formed in 2015 to support both capital improvements and cultural productions at the Peabody. Lloyd served as the organization’s first president and continues to sit on their Board of Directors.

The Peabody Auditorium Foundation developed and sponsored the Centennial Renaissance Campaign, which raised a half a million dollars to support and upgrade the Peabody Auditorium in celebration of its 100 years anniversary. During the time of COVID, while the auditorium was dark, the Foundation entered into an agreement with the Volusia County School Board for “Youth + Art = Success” program, which annually provides free in-school professional children’s theater productions in elementary schools, produces two professional children’s theater productions for the public, hosts 200 high school students to attend the Broadway Series at the Peabody, and awards scholarships to high school graduating seniors who plan to enter a performing arts career.

He and his partner, Chris, are financial contributors to many arts organizations throughout Volusia County, and aside from his law practice, he volunteers his time to local arts organizations, and even occasionally comes out of retirement to “trod the boards” in local theatrical productions with his close friend, Julia Davidson Truilo.Bravo Lloyd! The Peabody Foundation and community couldn’t be more proud and thankful for all you do to keep the arts alive in Volusia County.

Parallel Parenting Plans: A Solution for High-Conflict Florida Custody Disputes

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Not all custody arrangements work well when parents are locked in constant conflict. For families dealing with ongoing disputes over schedules, school decisions, or healthcare, parallel parenting offers a more workable option. 

Instead of trying to co-manage every detail, each parent handles their own time with the child independently. Communication is limited and often done through parenting apps. 

Parallel parenting allows high-conflict parents to disengage from one another while still focusing on their children’s needs. Ongoing parental conflict can cause serious psychological and social problems for children. 

What Is Parallel Parenting?

Parallel parenting is a structured approach used when co-parents struggle to communicate without conflict. Each parent sets their own rules and routines during their scheduled time, and direct contact is kept to a minimum, usually limited to email or co-parenting apps. The aim isn’t to foster agreement, but to shield the child from tension. 

In some high-conflict cases, a Florida court may appoint a parenting coordinator under § 61.125. That person, often a trained mediator or attorney, helps parents stick to the plan, resolve logistical issues, and reduce the likelihood of ongoing disputes affecting the child’s well-being or daily care.

How to Build a Successful Parallel Parenting Plan

A good parallel parenting plan removes as much guesswork as possible. Start with a schedule that leaves no room for confusion: 

  • Specific pickup times
  • Clear drop-off locations
  • Holiday rotation everyone can follow

Communication rules are just as important. Many parents choose a written method, like email or a parenting app, to keep conversations brief and focused on the children.

The plan should also spell out who makes which decisions. One parent might handle medical choices while the other manages school matters, or both may need to agree on major issues. 

Families change over time, so the plan should allow updates as children grow. Some parents eventually shift to a more cooperative style, while others rely on parallel parenting long-term when conflict remains high.

We’re Here to Help

Parallel parenting can give structure and stability to families dealing with ongoing tension. At Wickersham & Bowers, we work with parenting coordinators and mental health professionals to build plans that put children first. To talk through your options, call 386-252-3000.

Florida’s Elective Share Law Dilemma: Planning Your Estate When You Can’t Fully Disinherit a Spouse

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Under Florida law, a surviving spouse cannot be wholly disinherited by the deceased spouse. Florida’s elective share law provides a recourse for a surviving spouse to elect to take a certain percentage of the decedent’s estate, even if the will or trust itself left the surviving spouse with nothing. 

This is particularly important in second marriages and blended families because children from prior relationships and new spouses often have competing expectations. A surviving spouse who has been disinherited may rely on the elective share to maintain financial security and avoid ending up destitute.

How Elective Share Works

Florida sets the elective share at 30 percent of what it calls the “elective estate.” This estate includes the probate estate, the homestead, and many non-probate transfers such as pay-on-death accounts, jointly held property, and assets held in a revocable trust. In some situations, property a person transferred during their lifetime can still count if they kept control or the ability to change the asset.

Once a surviving spouse chooses to make an election, the personal representative must place a value on every asset included in the elective estate and determine the spouse’s 30 percent share. Because this calculation comes first, other heirs may receive less than they expected, even if the will or trust says otherwise.

The timing rules are strict. A spouse must file the election within six months of receiving the notice of administration or within two years of the death, whichever comes first. Courts can extend the deadline, but only when the spouse shows good reason. Since the timeline starts running as soon as notice is served, a surviving spouse should contact an attorney as early as possible.

We Can Help You Protect Your Family’s Future

Florida’s elective share can reshape an estate plan in ways many people don’t expect. When it isn’t addressed early, it can create tension between a surviving spouse and other family members. Good planning helps prevent those problems and keeps everyone on the same page.

At Wickersham & Bowers, we work with Florida families to create wills, trusts, and agreements that hold up when it counts. To review or update your plan, give us a call at 386-252-3000 and schedule a time to talk.

Splitting Retirement Accounts in Divorce: How QDROs Secure Your Share of 401(k)s and Pensions in Florida

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In the case of a divorce in Florida, retirement benefits earned during the marriage (i.e., 401(k)s, IRAs, and pension benefits) are assumed to be marital property. The courts start off with a baseline assumption of equal distribution, but could deviate from this standard distribution depending on the statutory factors.  

Dividing these assets requires careful planning because most retirement plans are governed by federal law and can only pay benefits to the participant or an alternate payee pursuant to a Qualified Domestic Relations Order (QDRO). Without a QDRO, a plan administrator cannot legally divide and distribute benefits.

What Is a QDRO?

Federal law defines a QDRO as a court order that legally assigns part or all of a retirement plan benefit to an alternate payee, typically a spouse. To be qualified, the order must specify the amount or percentage to be paid, the names and addresses of the participant and alternate payee, and the number of payments or period to which it applies. It cannot provide for benefits not available under the plan or require different actuarial assumptions than the plan uses. 

How Florida Handles QDROs

For state employees, the Florida Retirement System (FRS) Pension Plan requires any domestic relations order dividing benefits to be submitted for approval. The FRS warns that processing a QDRO may take up to two months. The order often divides the marital portion of the pension benefits using a formula based on the length of the marriage versus total years of service. 

Payments to the alternate payee begin when the member retires and elects to receive benefits. For defined contribution plans like 401(k)s, the QDRO directs the plan administrator to transfer the alternate payee’s portion to a separate account or pay it outright.

Tax and Practical Issues

According to the IRS, distributions under a QDRO to a spouse or former spouse are taxable to the recipient, not the plan participant. If the alternate payee rolls the payment into an IRA, taxes can be deferred. 

QDROs are technical, and each plan has unique requirements. Therefore, it is wise to work with an attorney and contact the plan administrator early. Without a QDRO, you risk losing your share or incurring penalties for early withdrawal.

Call the Law Office of Wickersham and Bowers at 386-252-3000 or complete our intake form to schedule a consultation.

Don’t Accidentally Disinherit Your Spouse: Understanding Florida’s Elective Share Law

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Florida law protects surviving spouses from being disinherited. Even if a will leaves everything to the decedent’s children or a charity, the surviving spouse can take an “elective share” of the estate. 

The elective share is now at 30 percent of the deceased’s elective estate, which includes probate assets, as well as many non-probate assets, such as property held in a revocable trust, cash value of life insurance policies, joint accounts, and certain gifts made within a year of death. 

This broad definition means that spouses may claim a portion of assets that would otherwise pass outside of probate.

Who Can Elect and When

The surviving spouse must formally elect to take this share. Under Florida law, the election must be filed within six months of receiving the notice of administration of the estate or two years after death, whichever comes first. 

Failing to file by the deadline waives the right. Because the elective share may be more than what a spouse would otherwise receive under a will, it’s an important safeguard against intentional or accidental disinheritance.

How the Share Is Calculated

Florida’s elective share statute differs from common‑law dower laws because it looks at the elective estate rather than the probate estate. The elective estate includes assets in trusts, jointly held property, payable‑on‑death accounts, and certain property transferred shortly before death. 

When calculating the 30 percent share, the executor must value these assets and account for any gifts or property distributions the surviving spouse already received. If the estate lacks liquid funds, property may need to be sold to satisfy the elective share.

Practical Considerations

For couples in second marriages or with blended families, it is important to talk about the elective share. A well-drafted prenuptial agreement can waive elective share rights, but waivers must be in writing. 

At the Law Office of Wickersham & Bowers in Daytona Beach, we offer personalized estate planning services that reflect your goals and relationships. If you are creating or revising a will or have questions about the elective share after a loved one passes, our experienced team can guide you through the process. 

Call us at 386-252-3000 or complete our intake form to schedule a consultation.

Unmasking Hidden Compensation in Divorce: Valuing RSUs, Stock Options, and Carried Interest Under Florida Law

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Some of the most valuable assets in a divorce never show up on a paycheck. Equity compensation, like restricted stock units (RSUs), stock options, and carried interest, is often tucked away in bonus plans or private partnership agreements. These forms of compensation may not vest for years, but if they were earned during the marriage, they can still be divided under Florida law.

How Courts Divide Equity in Florida Divorce Cases

Florida law considers both vested and unvested RSUs and stock options marital property if awarded during the marriage and before a divorce is filed. To separate what’s marital from what’s not, courts often use a coverture fraction. This formula compares the time the couple was married during the vesting period to the total length of that period.

Take this example: If RSUs vest over four years, and the couple was married for two of them before filing, the marital portion would typically be 50%. Once the court makes that determination, it may order a lump-sum offset or set up a constructive trust to divide the asset as it vests.

Carried Interest in Divorce

Carried interest, or “carry,” is a profit share often earned by partners in private equity or venture capital. It vests over time and may depend on performance hurdles. 

In divorce, carried interest is usually treated as a business asset and valued based on expected payouts and risk. Florida law only includes enterprise goodwill in the marital pot, not personal goodwill tied to an individual’s skills or relationships.

Valuation often requires complex models, especially with clawback provisions and long vesting periods.

Why Daubert Matters for Financial Experts

Courts in Florida observe the Daubert standard for expert witnesses. In other words, any valuation expert must employ reliable techniques, such as the Black-Scholes method or scenario modeling, apply them properly, and base their entire analysis on reliable data. A weak report could be struck down totally, jeopardizing your case.

Let Us Help You Make the Right Case

At The Law Office of Wickersham & Bowers, we understand how to track, value, and protect hidden compensation in divorce. Whether you’re facing RSUs, carried interest, or stock options, our team can help you make a strong, court-admissible case. Call us at 386-252-3000 to schedule a confidential consultation.

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