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A 16 year old may be emancipated if he can show that he is mature and that he can support himself. A child will not typically be completely emancipated if he cannot show that he can support himself (though a court may partially emancipate a child and require the parents to provide support). Therefore, if a child is to later to be dependent on his parents for support, a court may be unwilling to fully emancipate a child. However, it's worth noting that parental objections to emancipation can be a strong barrier against emancipation.
That said, if the child wishes to live with another parent, that may be accomplished by seeking to modify the custody order. Courts often give a lot of weight to a mature child's well-reasoned preference when it comes to his residence.
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