Latin didn't die out, it evolved into various successor languages (the Romance languages). English will most likely continue evolving until it becomes something that would be incomprehensible to us today, though that probably won't be for several centuries, considering how well we can understand Shakespearian English. But, unlike Latin, it is not very likely to evolve into multiple successor languages. This is because long-distance communication tends to keep a language standardized. When the central structure of the Roman Empire broke down, there was no longer so much long-distance communication as there had been. The average person in northern post-Imperial Gaul, for example, wouldn't have known how different his language was from the language spoken by someone in southern post-Imperial Hispania. This was one significant factor in the divergence of the Romance languages. But we are less likely to have a breakdown of long-distance communication, due to our modern technology and globalization, so there will probably still be a Standard English 500 years from now, even if it would look strange to us.