My Dad had a 1987 911 Turbo Coupe and nearly traded it for a 1989 Slantnose Cabriolet...but instead chose to go with a 1989 328 Ferrari, which I now have.
Its wonderful to have something that was owned by your family and to be original owners. Don't get rid of it. Have some work done and enjoy it.
Your car looks to be in very nice condition. But I would not leave it parked where it is with sunlight hitting it. The rubber on the front end looks like its getting all dried out. Also, red oxydizes really fast so that sunlight isn't good for the paint either. The car would also look better if you put the original black Fuchs alloys back on it.
I say fix it and enjoy.