What happens to my assets not listed in the will, new/future assets or assets that I did not specifically give anyone (i.e. "No specific allocation")?

It will be distributed as per your residual assets under the " Allocate Assets" tab.

For example, if you subsequently inherit more assets from say a long lost Nigerian prince or somehow you forgot to list that brand new 10 million FJN watch, it will be distributed as per what you key in your residual assets. 

100% to Alan? What kind of "Friend" is he?!