Don't know about termites, and I'll assume that the rot is the one commonly referred to as 'dry rot' (brown rot). To the best of my knowledge, there isn't a method. For recent brown rot, you could be in error by year(s) and for old dry rot, the error could be decades (I'll use the term brown rot for the balance).
The rate of deterioration generally depends on the extractives within the wood (these vary with the species and can vary within a species depending on whether the tree grew on the north or south side of a hill, in the same vicinity), the moisture content (climate conditiions) and the type of brown rot fungus involved.
The deterioration is dependent on the type of species, density, growing conditions, and numerous other items.
The damage is named brown rot because the particular types of fungus attack the cellulose of the wood and leave the lignin, giving the damaged material a brown colour. There are several types of fungus that do this type of damage; some are more agressive than others.
All of the fungi that I'm aware of require moisture and there is a threshold of 18% to 30% where the fungi are active. Some literature indicates that the threshold starts at 22%. I think the 22% value is more correct, but when checking buildings with a moisture meter, I use 18% as a threshold (10-12% is a common moisture content and well below the threshold).
Most of the fungi have the ability to 'wick' water via small 'tubes' within their structure. This permits the deterioration to occur a distance of a couple of inches from the actual water source.
The deterioration is also progressive. If sufficient moisture for brown rot to occur is present this year and not for the next 10 years, the fungi becomes dormant, only to continue when conditions are favourable.
Timber can lose 20% of its strength due to rot that isn't apparent. When it becomes visible, the loss is greater (cellulose walls provide the significant tensile strength).
The Encyclopedia of Wood is an excellent general reference, I think the publisher is Stirling, from New York (will check when I get to the office).