As a reminder, you are allowed to negotiate and decline the severance too.
You can consider asking for up to four weeks of pay for each year worked if you can prove being laid off may cause you significant economic hardship.
It may be possible to negotiate for more in your base severance pay, particularly if you're a high performer, in a senior position or if you've been with the company for a long time. If you were expecting a bonus or commission in the future, you may be able to bring that to the table as leverage to receive a bigger payout.
Try to extend your health, life, and disability insurance coverage. The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows the continuation of the health insurance policy you had with your employer for 18 months (and longer in some months).
If you are dismissed, take notes during the termination meeting and don't feel pressured to sign the severance agreement immediately. Stall for time to review the document and think it through. Typically, you will have 21 days to accept the agreement, and once it's signed, you have seven days to change your mind.
Severance will be paid either as a lump sum or in installments over a period of time. It may be possible to negotiate for one method over another.
After an initial review of the agreement, you may decide to hire an employment law attorney, especially if you have evidence of discrimination, if the language in the package is too complicated or broad, or if the agreement is multiple pages long. Ask the lawyer which state laws govern severance agreements and if specific stipulations exist regarding timing and payment amounts. Also, talk to the local placement and recruitment agencies to determine how long it may take you to get a new job at the same level and salary.
Just some information I gathered from the Internet. Hope this helps.