It has been heavily suggested that in the League universe there’s a cycle of reincarnation, both by Illaoi and Nagakaborous, as well as by Zoe and the recent Mt. Targon work. If that’s the case, I assume that there’s no “afterlife” in the sense that your consciousness, your “self” is done when you die, and your soul/spirit/whatever gets ready for reincarnation through some unknown means.
Kindred aren’t the enforcers of the afterlife, they’re mere personifications of death. Accept it, and lamb makes it as painless as possible. Fight it, and Wolf will make your final moments a Hell... in exchange for a chance to “cheat” death (even if death is unavoidable at the end). Riot stated back when they were release that they’re not “all-powerful” in the traditional sense. Yes they’re the universal truth of life eventually ending, but escaping from the grasp of death is possible.
As for the Ascended, it was heavily implied by Illaoi that they, are “stagnated.” If there are any repercussions to your soul for Ascending, I don’t think it has been made clear yet, but Illaoi certainly sees it as foolishness.