A sequel for It's A Wonderful Life is in the works and original cast members Jimmy Hawkins and Carol Coombs might reprise their roles in the new film.

It's A Wonderful Life: The Rest of the Story will be produced by Allen J. Schwalb of Star Partners and Bob Farnsworth of Hummingbird. Farnsworth and Martha Bolton will be writing the screenplay. The film's cast and writers spoke about the sequel and its plot with Variety.  

"The storyline of the new film retains the spirit of the original - every life is important as long as you have friends," Farnsworth said.

Karolyn Grimes, who played George Bailey's daughter Zuzu in the original film, will be playing a different role in the sequel. She will portray an angel who shows Bailey's difficult grandson how much better off the world would have been had he never been born.

"The new film will retain the feeling of the original, and it simply must be shared," Grimes said. "I've probably read close to 20 scripts over the years suggesting a sequel to 'It's a Wonderful Life,' but none of them were any good. The script by Bob Farnsworth and Martha Bolton was wonderful, and I wanted to be involved with his version of the film immediately."

The sequel is expected to release in 2015 during the holiday season.

Watch a clip from the 1946 film below.

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