Before she died in 2007, Smith launched a legal battle to secure more than $300 million (£188 million) from the estate of her late husband, oil tycoon J. Howard Marshall.
The wrangling continued after her death with the promise of providing a massive trust fund for three-year-old Dannielynn, but a Texas court threw out the claim in March (10) and a subsequent appeal was rejected.
Birkhead has now resorted to selling off his late lover's memorabilia to fund the tot's private education.
He tells Reuters, "It's like, do I want to hold on to one of Anna's dresses, or do I want to try to help Dannielynn's future?
"Dannielynn has different needs than other kids. She has to have security because we have a lot of curious people and it creates a bit of a problem. And now that she's starting school, she'll need to go to a private school. I think Anna would appreciate that these items are going to help Dannielynn thrive and flourish and continue being the great kid that she is. We have money. We have more than enough to survive on. (Auction proceeds) would just supplement that."
The sale, held by Julien's Auctions, will take place on 26 June (10) in Las Vegas and will include Smith's Mercedes sportscar, bronze statues and furniture, as well as gowns and paintings.
A slice of the proceeds from the auction will also go to the late model's charity, the Anna Nicole and Daniel Wayne Smith Foundation, and a dress which Smith wore in an advert for People for the Ethical Treatment of Animals (PETA) will raise money for the animal rights organisation.
Smith will accept the honour - handed out since 1999 for a boundary-pushing body of work - during the event, which runs 16-20 June (10) in Provincetown, Massachusetts.
The Clerks filmmaker isn't the only A-list name to be honoured at the festival - actress Tilda Swinton will receive an accolade for excellence in acting, and directing duo Rob Epstein and Jeffrey Friedman will be given the Faith Hubley Memorial Award, last handed out in 2008 to actress Jane Lynch.
The festival's executive director Gabby Hanna says: "We are thrilled with these four award recipients. They each represent the spirit and artistic voice of what independent filmmaking is today."
Fawcett lost her battle with cancer last June (09) and her Charlie's Angels castmate is still struggling to come to terms with the loss.
So she had to pass on the opportunity to pay tribute to the late actress, alongside Cheryl Ladd and Jaclyn Smith at the awards show in Los Angeles.
In a statement to fans, the actress explains, "Farrah was not only my friend, she was an iconic star who allowed us to hit the ground running that first season and spun us into the stratosphere.
"Emotionally, it was simply too soon for me to join my co-stars."
The 11 year old made his big screen debut opposite his famous father in 2006's The Pursuit of Happyness, and went on to land a part in The Day the Earth Stood Still with Keanu Reeves in 2008.
Smith takes the title role in the upcoming new version of The Karate Kid, which is due for release in June (10), and the youngster has already won acclaim for his work in the picture - he will be honoured with the Breakthrough Male Star of the Year award at the 2010 ShoWest event in Las Vegas.
ShoWest managing director Robert Sunshine tells Variety.com, "Jaden Smith is an exceptional young actor who has delivered a true breakout performance with his portrayal of Dre Parker in The Karate Kid."
The event kicks off on Monday (15Mar10) and runs until Thursday (18Mar10).
Sony today released a new trailer for The Karate Kid, its modern update of the Ralph Macchio/Pat Morita 1984 classic, in which Jaden Smith travels to China and learns some sweet kung fu moves from Jackie Chan. Though the new clip fails to explain why the film isn't called The Kung Fu Kid, it does shed light on its broader thematic ambitions, positioning its storyline as an obvious metaphor for nascent power China's bullying of an economically crippled America on the world stage:
Still no sign of a William Zabka cameo. It might be time to start a petition.
The Kung Fu Karate Kid opens June 11, 2010.
The Brazilian model and handbag designer, who announced she is expecting her second child with the actor in June (09), will host competitive hairstyling show Shear Genius.
The series is set to launch its third season in February (10) with Alves as its star. She replaces former host, veteran actress Jaclyn Smith.
McConaughey and Alves have been together since 2007.
It seems it's a good time to be close to the Sahara star - McConaughey is also working on a deal with Fox TV executives to turn his brother Rooster into a cartoon star.
Rooster Tales will chronicle the adventures of a beer-drinking sheriff, who marries a beautiful Mexican woman with an extended 114-member family.
Medics Dr. Sandeep Kapoor and Khristine Eroshevich and Smith's companion and lawyer Howard K. Stern are accused of conspiring to illegally provide the late star with prescription drugs. All three have pleaded not guilty.
Los Angeles Superior Court Judge Robert J. Perry has banned candid images of Smith, obtained by prosecutors, from being shown in court, fearing it would "sensationalise" the hearing.
The nature of the photos were not revealed, but one shot reportedly shows Eroshevich sharing a bath with Smith, supporting the District Attorney's case that the doctors acted unprofessionally and inappropriately.
However, entries from Kapoor's diary were allowed to be heard in court, and were read out by Judge Perry during a preliminary hearing on Wednesday (28Oct09).
In one entry, dated 13 June, 2005, Kapoor - who his lawyer had claimed was gay - writes, "I was making out with Anna, my patient, blurring the lines. I gave her methadone, Valium. Can she ruin me?"
Another earlier excerpt detailed Kapoor's own struggle with drugs.
In an entry from 17 November, 2002, he writes, "I also need to get off the drugs. The Buspar (anti-anxiety drug), Wellbutrin (used for depression) have to go. But first the Ambien (sedative) has got to go. Oh God, it's so addicting. I have to get off that s**t."
Smith died from an overdose of prescription pills in February, 2007.
Harrison Ford has been named the highest-earning actor in Hollywood -- after he took home a massive $64.95 million in the last 12 months.
The veteran star returned to his role as the title archaeologist in last year's Indiana Jones and the Kingdom of the Crystal Skull, which went on to gross more than $750 million worldwide and earned Ford a bumper paycheck.
The figures, from Forbes magazine, show that Ford brought home the staggering sum between June 2008 and 2009.
Second in the list was Adam Sandler, who earned $54.9 million thanks to the success of his two films, Bedtime Stories and You Don't Mess with the Zohan.
Will Smith came in third with $45 million, while the top five was rounded out by Eddie Murphy and Nicolas Cage, who both earned $39.9 million.
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[IMG: LThe A-Team is coming together with Bradley Cooper and Liam Neeson now said to be in talks with Fox to play Lt. Templeton "Faceman" Peck and Col. John "Hannibal" Smith, respectively. Joe Carnahan is directing the film based on the 1980s TV series.
According to Variety, Neeson and Fox are working out money issues.
Meanwhile, back in May, Cooper appeared to have unwittingly confirmed to IESB that he was in for Faceman although he backpedaled on his statements a few days later when speaking with Chud. The actor is especially hot right now coming off this weekend’s number one film, The Hangover.
Carnahan and Brian Bloom fine-tuned an A-Team script by Skip Woods while Ridley Scott is producing with Jules Daly and series creator Stephen J. Cannell. Tony Scott is executive producing through Scott Free.
Production begins in late August for a June 11, 2010 release.
The series' premise — four war vets wrongly convicted of armed robbery who escape from a military prison to become do-gooder mercenaries — is intact but the camp nature of the show is said to have been replaced with a tone that hews closer to Mission: Impossible and Ocean's Eleven.
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Will Smith has been crowned the highest earning actor in Hollywood, with a fortune of $80 million.
The Hancock star came first in the Forbes ranking to find the best paid actor of last year.
Cameron Diaz was Hollywood's highest earning actress with a fortune of $50 million, with Keira Knightley and Jennifer Aniston in second and third place with $32 million and $27 million, respectively.
Coming in behind Smith was Pirates of the Caribbean star Johnny Depp, who got paid a whopping $72 million.
The top five paid actors from June 2007 to June 2008 were rounded out by Eddie Murphy and Mike Myers, who took home $55 million each, and Leonardo DiCaprio, who pulled in $45 million.
The full list of Hollywood stars' paychecks are as follows:
1. Will Smith - $80 million
2. Johnny Depp - $72 million
3. Eddie Murphy - $55 million
3. Mike Myers - $55 million
5. Leonardo DiCaprio - $45 million
6. Bruce Willis - $41 million
7. Ben Stiller - $40 million
8. Nicolas Cage - $31 million
9. Will Ferrell - $31 million
10. Adam Sandler - $30 million
COPYRIGHT 2008 WORLD ENTERTAINMENT NEWS NETWORK LTD. All Global Rights Reserved.