There are no hard and fast guidelines – because it depends on the state of your health as well as your age. The most important thing is to inform yourself about the risks you face and the options and solutions available to you. When you are in your 60’s, it is certainly a good time to become informed, and to take some modest initial steps, such as obtaining a good power of attorney and health care proxy. Probably by the time you are in your 70’s, you should be taking steps to protect your assets against the ruinous costs of long-term care.

For effective planning, if you are making any transfers of your assets now, the five-year look back period must be taken into account.
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