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Emancipated Minors may get Freedom, but Don't Count on Credit

What curfew-bound, rule-burdened teenager hasn't fantasized about cutting the apron strings and striking out on his own, sans parental supervision? In a handful of situations, a minor might be able to do just that through emancipation, a legal proceeding that grants adult status to a teen and frees her to make her own medical decisions, sign contracts and otherwise manage her life -- and finances -- independently.Drew Barrymore did it. So did actresses Michelle Williams, Laura Dern and Alicia Silverstone. A teenager who's essentially asking to divorce her parents must prove she has a good reason for it, such as a dysfunctional family, a need to work adult hours or her own marriage and children to support. "There are instances when there's a child actor or someone like an Olympic athlete, and the parents are managing their assets, and there's a concern that they're not acting in their best interest," explains John McManus, an attorney and owner of McManus Legal, based in New York City. ...

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