The court shall issue an emancipation order if it determines that emancipation is in the best interest of the minor and the minor establishes all of the following:
(a) That the minor's parent or guardian does not object to the petition; or if a parent or guardian objects to the petition, that the objecting parent or guardian is not providing the minor with support.
(b) That the minor is at least 16 years of age.
(c) That the minor is a resident of the state.
(d) That the minor has demonstrated the ability to manage his or her financial affairs, including proof of employment or other means of support. “Other means of support” does not include general assistance or aid to families with dependent children administered under the social welfare act, Act No. 280 of the Public Acts of 1939, being sections 400.1 to 400.121 of the Michigan Compiled Laws.
(e) That the minor has the ability to manage his or her personal and social affairs, including, but not limited to, proof of housing.
(f) That the minor understands his or her rights and responsibilities under this act as an emancipated minor.