If you want to put it there, pull the stump, work the soil with a spade, rake the soil evenly, water it once every forthnight and let it rest for a few months. That's to allow as many old roots as possible to decompose. You should also work some organic matter into the ground while you are at it: if the old tree had been there for so long it surely drained it of nutrients. Failing that you can just drop some regular NPK fertilizer before planting.
