There will probably be a schism where the religious authorities prop up a new Dalai lama, and others believe that they're no longer a part of the cycle of rebirth.
I've only found less firm language on this. May be his last incarnation. May come back as a woman.*
The only wills I've seen is will not be born in China or any other country that isn't free.
*Avalkotia/Kwan Yin are beyond gender and two sides of the same saint.