Do and Don’t list if laid off

1. Do not need to move your 401K. Federal law generally bars companies from forcing fired workers who have more than $5,000 in savings to move their 401(k) assets unless the company is dissolving the plan. (If you have less than $5,000, a former employer could compel you to take your money. Even then, you'd have 60 days before running afoul of tax rules.)

2. Do apply for unemployment insurance. Find your state's unemployment office (and a host of other programs) at the GovBenefits.gov site run by the federal government.
3. Do cut the budget
4. Do approach the school and explain the change in circumstance if you have kids in college. Most schools will work with parents to find last-minute sources of aid. At the very least, your kid can apply for a federal student loan that will finance up to $3,500 of the cost at a relatively low interest rate.
5. Do get resume ready.  MSN Careers, Job Star and Resume-Resource offers free help and samples.
6. Do take care of health insurance options. Federal law requires large employers to allow former workers to remain on the company health insurance plan for up to 18 months under a program dubbed COBRA (after the Consolidated Omnibus Budget Reconciliation Act that created the rule). But the employee has just 60 days to decide whether to enroll. Under COBRA, the former employee must pay the full cost of the policy, plus a small administrative fee. If you're healthy, it's no bargain. Or, the North American Securities Administrators Association can help you find your state securities department to get  information about insurance broker.