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I do not envy you having to engage in that conversation. Be fair and listen more than you speak. You'll get through it. Do you have the ability to hire a driver for him?
Got a new car for my mother at 60. She has already destroyed the front bumper, curbed the wheels, and scratched the rear up. At 60. I believe it's mostly due to her being careless, loss of spatial perception and not recognizing that her reaction times are fading. I can only imagine how many more years she can go before actually hitting things. Either way, not looking forward to it.
Good luck!
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