Makarov's death is considered as one of the shocking scenes that happened in Fairy Tail history. Also the event might lead to the impending break up of Natsu and Gray.
There are a lot of things that had happened on the previous episode and a recap is a must. Episode 505 titled "Trump Card" is full of action, a lot of twist and turns, and notable death from one of the beloved characters.
The last episode started with Irene gathering and transforming the Alvarez soldiers into berserkers. Under her command, she has to transform the said soldiers to overpower their enemies on the field. Transforming them to berserkerx means she is enhancing their fighting skills while taking away their ability to think. The Fairy Tail crew is totally outnumbered and they have to find possible ways to defeat the Alvarez soldiers.
In the next sequence, Irene taunted Mavis while the Berserkers attacked and destroyed the whole group. Makarov is hopeless as his allies fell one by one. He then prepared a sacred spell; which is to cast the Fairy Law. Mavis tried to convince Makarov to stop the cast however, he has already made his decision.
After the two made their farewells to each other, he then unleashed the cast which surprises August and Irene because of the power the cast contains. Moving on the next chapter or Episode 506 titled "Broken Bonds". It will focus on Mavis confronting Irene as they continue to discuss about the power of the spell that was casted by Makarov.
Also, according to some sources, the conflict between Natsu and Gray will continue. It is taking more time than expected for them to settle their differences and it is affecting everybody. It will show as well on the new episode that Natsu will finally gain an upper hand as he defeats his opponent.
If you missed the last episode, you can always watch the epic battle below: