You should do whatever it takes to be a special part of their lives. My family did a Christmas Eve big, my wife's ded Christmas day. So we did both.
We live in the Phx area. My parents lived approximately 120 miles away in Prescott. We would go up to Prescott for a couple of days do Christmas Eve Tamale dinner and open family presents (My Mom was a huge gift giver) then Santa would deliver stuff stocking and 1 or 2 fun presents in the morning we pile in the card and make the 2 hr drive down to Mesa/Gilbert for another family present exchange w/ the inlaws.
Some terrific memories and family traditions made. Wish my Mother was still alive to continue them. It is not the same since she passed.
This year to start a new tradition I flew in her cook to teach us how to make Tamales as a family. My Mom was th Head Start Program Director for 25 years and Rose was her Cook from when they started the program in 1972 until they both retired in 25 years later. We always had Vicente Tamales for Christmas Eve, Rose is 75 years old and to learn at the hands of a master chef was an amazing experience. We made 35 dozen this past weekend and to share that experience with my wife and inlaws was a tender mercy.
I feel my Mom's presence smiling at me from beyond and am truly blessed