Yep, we are spirit children of Heavenly Father and Mother. We came down to this earth to receive a body to learn to control our body, parts and appetites as whether we can by faith accept the Only True Gospel when presented to us. When we die, the spirit and body are separated for a time until the judgment and resurrection are complete. As a resurrected glorified human, we will have duties to fulfill as we are placed where we fit in Heaven, Celestial glory, Terrestrial glory or Telestial glory. If we for some reason sin against the Holy Spirit (Ghost) and deny the Godhead when at the judgment seat, we will still receive grace from eternal death by being resurrected. However, we will not be placed in the glory of Heaven. We will reside with Lucifer (Satan) forever in Perdition.
The Universe won't be reborn. But, the Earth with receive it's celestial glory in which will be the mansion for Celestial beings who reached the 3rd level of Heaven. Those who will create their own universes and reign over their universe. They will increase in joy and posterity with their own spirit children. And, the eternal plan will continue. "Man is as God once was. As God is now, man may become." It's interesting that you speak of similar things without any real understanding of the fulness of what is going to take place in the hereafter. Yet, it's for all to learn from God.