Does a Family Trust, Will & POA drawn up in 1988 by my mother need to be updated or is it still be legally binding as is?

Generally, the latest Will is binding. But you should check with an estate attorney just in case. There has been quite a bit of time here, so you should make sure that this is the latest will.
Carol

The durable and medical POA are legally binding. They can only be changed by your mother and then only if she is considered competent to, in the sense of able to conduct her business in a business like manner which it sounds like she is not from your description of her on your profile.