Honey Fungus
Old stumps that have been in your garden for years rot and start to attract mould and fungi such as Honey Fungus. The most characteristic symptom of honey fungus is white fungal growth between the bark and wood usually at ground level. Clumps of honey coloured toadstools (this link leaves this site) sometimes appear briefly on infected stumps in autumn.
Honey fungus spreads underground, attacking and killing the roots of perennial plants and then decaying the dead wood. It is the most destructive fungal disease in UK gardens.
Honey fungus can attack many woody and herbaceous perennials. No plants are completely immune, which may contaminate the rest of your garden, harming or even killing other plant life.