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Should I accept a severance offer?

In this day and age, getting offered any kind of severance package can feel like winning the lottery. However, when an employer offers you a severance agreement, you should always examine the terms to ensure that you're not missing out on benefits you might deserve. If you recently were offered such an agreement, be sure you understand everything you're getting and everything you're giving up before you accept it.

The reality of the matter is that your employer is offering you a severance package for a reason, and it's probably not because they just like you a lot. It's possible that your severance package is on the table because of the terms of your employment contract, in which case you want review the employment contract to make sure that the severance offer meets the terms that contract lays out.

However, it is also possible that your employer is offering you a severance package to avoid some other threat, like a wrongful termination suit. If you suspect that your employer may be trying to protect themselves with the severance offer, you should consult with an experienced attorney to understand whether the offer is truly in your best interests to accept.

If you can identify the motivation behind the severance offer, you may be able to negotiate more favorable terms, making your silver lining that much brighter. Of course, you may also realize that the better course of action is not to accept it at all and instead pursue some other legal action. With proper guidance from an experienced attorney, you can explore all of these possibilities and keep your rights and interests protected.

Source: Findlaw, "Severance Packages: Are Benefits, Severance Pay on the Table?," accessed June 30, 2017

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