Severance:  If offered, take the time to review any plan options and ensure what you select fits your situation -- taking special care to consider tax implications.

Company Stock Options:  Company stock option terms are often changed when leaving a company. You need to know how to exercise your options, and plan when you should exercise, and the tax consequences.

Retirement Plans:  Knowing the specific rules for when and how you can tap any retirement accounts – 401(k), IRA, etc. is key. You’ll likely want to rollover your former company 401(k) assets; a lot of people don’t bother & it can be a costly mistake.

Unemployment Insurance:  Be sure to contact your state’s unemployment agency to understand your benefit coverage – length of time, amount, etc. And know implications -- i.e. benefits are taxed as regular income.

Health Insurance Coverage:  Understand the terms of your health insurance coverage extension and options for purchase under COBRA or other replacement options after the term runs out.

Tapping Resources For Current Expenses:  To meet expenses during transition will require you to tap various resource accounts. Prioritizing accounts and timing access is important planning; know which ones to tap/not to tap and how.

Investment Portfolio Restructuring: To meet expenses, you may need to reallocate and/or liquidate assets in your investment portfolio. Understanding the tax consequences and legal issues is critical. These will help you decide what you do with your brokerage accounts, 401(k), IRAs, 529 plans, and other key investment accounts.

Debt Management:  Managing your credit card and mortgage debt can cut expenses. Understand your options for refinancing, home equity lines and additional credit: what makes sense, when and why.