What I do is pour myself a coffee mug full of Kahlua or some other high octane beverage like Disaronno amaretto or Francesco hazelnut liqueur and sit in front of the tree sipping it while the family opens presents. I started doing that when my kids were little and waking us up at 4:30 in the morning and now it's become sort of a tradition. Everybody thinks I'm just taking my coffee black!
We had a bachelor party weekend for a frat brother in 2005. They started drinking at noon. I have not had anything to drink before 2PM since 1987. It took me a long time to warm up to that. But I managed. The key is a low alcohol beer like MSG 64.
I made the bourbon drinkers watch a movie after dark. That kept them out of trouble.
I gave up liquor which makes drinking a lot easier.