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Quantifying the economic value of a lost family member's contributions
The death of a family member may have significant personal and financial implications. In addition to the emotional impact, surviving family members often face potential changes in financial circumstances associated with the loss of support and services their family member once provided.
At CBA, we provide professional services addressing financial and care-related implications following loss. Through our Future Loss of Services Needs and Costs Analysis, we help legal teams and families assess the economic value of services and contributions and document associated losses.
Each analysis is prepared with sensitivity to the family’s unique circumstances, including the home environment, family structure, and living arrangements. We assess the practical services the deceased provided and produce a reasonable, evidence-based valuation suitable for use in litigation.
Contributions captured in a loss of service analysis
Our analysis evaluates the practical services the deceased provided within the home and family setting, based on the household’s living circumstances, family structure, and day-to-day functioning.
Household management
Meal preparation, household chores, cleaning, laundry, grocery shopping, and general day-to-day upkeep, all costed at fair market replacement rates.
Childcare and caregiving
If the deceased was responsible for care of children, elderly family members, or others, we assess the full cost of replacing regular caregiving contributions.
Home maintenance and repairs
Yard care, snow removal, home repairs, vehicle maintenance, and other practical contributions that may require replacement through external services.
Financial management
Budgeting, bill payment, tax preparation, insurance management, and other financial administration the deceased handled for the household.
Transportation and logistics
Transportation to appointments, school, activities, errands, and community destinations, together with other practical support related to community access.
Guidance and supervision
Supervision, caregiving, and day-to-day support provided to children or other dependants, including assistance that formed part of the household’s regular functioning.
Estimates the economic value of services that may have been provided over time, using fair and transparent costing grounded in the family’s actual living circumstances.
How CBA conducts a loss of service analysis
Our approach is compassionate, thorough, and grounded in evidence.
Family interview
We conduct a sensitive, thorough interview with surviving family members to understand the home environment, family structure, living circumstances, and the deceased’s role in homemaking, caregiving, household management, maintenance, transportation, and community access.
Documentation review
Relevant records and collateral information are reviewed to establish the deceased’s role in the household, their practical service contributions, and the family circumstances relevant to the analysis.
Fair market valuation
Each identified service is assigned a market-based cost value using recognized sources. Where relevant, this may include the cost of professional services such as counselling, in addition to replacement costs for other supports.
Report types for fatality claims
A Loss of Service Analysis is a specialized report type distinct from our standard life care planning services.
Future Loss of Services Needs and Cost Analysis
This report evaluates the economic value of homemaking, caregiving, housekeeping, household management, home and property maintenance, vehicle upkeep, transportation, and community access services the deceased would have continued to provide. The analysis is based on the family’s household structure, environment, and living circumstances, and applies fair market replacement rates to quantify these services. Where applicable, it may also account for related professional supports such as counselling.
Frequently Asked Questions
What is a loss of service analysis?
A Loss of Service Analysis quantifies the economic value of household contributions, caregiving, and support services the deceased provided to the family. It is distinct from a life care plan, which projects future care needs for a living individual.
How do you determine the extent of services the deceased provided?
Are informal or unpaid contributions included in the analysis?
Do you use private or commercial rates when valuing loss of service?
Let's Work Together
Contact us for a free consultation, we can advise you if a referral is appropriate.
Phone
Toll Free: 1-866-314-7335
Phone: 905-882-6947
Fax: 905-882-9986
info@cbafuturecare.com
Office
95 Mural St #600
Richmond Hill, ON L4B 3G2