You should create an inheritable duplicate of the parent process handle and pass its value to the helper process on the commandline. The helper process can then wait on that handle on a separate thread (or the main thread if you're clever). When the handle becomes signaled, it means that the launching process has terminated.
Edit
Since you can't change the helper process, your options are more limited. Your could try attaching a handler to the launching process's OnAppDomainUnloaded event, but I'm not sure this will work in all the cases you're concerned about. You could also create a third process to monitor the first. This process would work as I described above. If you wanted to get really fancy, you could inject a remote thread into the helper process to monitor the parent. This is very technical, so I recommend against it.