Need insurance and estate planning answered. Thank you :)

The Jones family: John, 63, and Jenny, 62, have two children, James, 22, and Jenna, 26, and a 2 year-old grandson, Jonathan - Jenna's son. Lost year, a car aocident killed Jenna's husband, Jerry, and left Jenna paralyzed from the waist down. John took an early buyout last year ione year's salary and full health benefits until he reaches 65 ) from his $176,000-a-yoar job as a vice president and director of human resources for a computer software company aftor it was acquired. Jenny is a senior manager at an accounting firm, earning $115,000 a year. Major assets: The Joneses own a two-atory, four-bedroarn single-family house worth $600,000, down from $750,000 at the markpt peak. John has $750,000 in his 401(k) plan, down from $850,000 in 2007 . He also has $100,000 from a previous employer's pension plan that he rolled over into an individual rotirement account. Jenny has $200,000 in her 401(k) plan. The couple has a brokerage account worth about $400,000, down from $550,000 in 2007. They also own a lakefront vacation house worth $300,000 and a boat worth about $50,000. Major liabilities: The Joneses owe $50,000 on their principal tesidence and $50,000 on their vacation home. Insurance: John and Jenny have 20-year term life polkies with death benefits of $1 million each that will oxpire in two years. John also had o torm policy through his employer for three times his salary, which he lost when he left his job. John and Jenny also bought long-term-care policies 10 years ago ( $100 a day for five years) that cost them $2,500 a year. Insurance: What type of life insurance coverage do they need in retirement? Estate planning: Right now, the Joneses have straightforward wills, with each leaving everything to the other. Their two children would eventually inherit the estate after the second parent died. Should they have something more elaborate that takes advantage of tax-saving strategies? What about extra prqvisions for their daughter and grandson