Advice on telling children

Hi, my partners dad got diagnosed with cancer at the end of January this year. It’s all happened so quickly and now we’ve just been told he only has weeks to a few months left. It’s a big shock to everyone.

one of my main concerns is our children we have a 5 year old, 3 year old and a newborn. 
I’m mainly concerned about our 5 year old. She’s very switched on and understands a lot. At the moment all we’ve told them is that their Grandad has a bad headache.
Unsure where to go from here really. Do we tell them what’s going to happen? Or wait until after?

They are very close to him and we see him at least once a week if not more.
would it be a good idea to notify our daughters school? Incase it affects her negatively?

any advice would be great as this is our first experience with this kind of thing.

Thankyou.