But if you are pretty sure you will hate the other options available, why not take the pay out and use that time to decide your next move? You may decide to find a new job with hours that fit around your family, if you have valuable skills you could go freelance, or you may think about starting a business from home. You could even sign up for a course and learn new skills/get inspiration.
Five months is a good length of time to work out what you want to do and get started. You may find some inspiration/advice here: www.talentedladiesclub.com/help/
I was once in this position at the start of my career. My department was closed down and I was given the choice of paltry redundancy or a really awful role (data inputting in an interesting department, but with little chance of promotion). I took the brave step of taking redundancy. It just felt 'right' even though I had no idea how I would pay my rent! Two weeks later I was offered a brilliant opportunity by my old boss at a start up business and have never looked back.
Now, whenever I face a similar dilemma (safe but dull versus leaping into the unknown) I always go with my gut and take the risk. And it has always, always paid off!
My place of work is closing down. I am in consultation. What are my legal rights? I think what I've been offered is fair due to my length of service. They can offer me my role elsewhere (a place I hate) on mat leave. I have six weeks to go & other roles may possibly come up if someone leaves. I am very conflicted. I could take the payout (about 5 months take home) which would be great if I had another job. I know that I would struggle to get my current salary elsewhere. So taking the pay off but probably take a 10k loss in future job. I am offered a month grace if I relocated.