An angel is sent from Heaven to help a frustrated businessman by showing him what life would have been like if he had never existed.t's a Wonderful Life is a 1946 American Christmas fantasy drama film produced and directed by Frank Capra, based on the short story and booklet The Greatest Gift, which Philip Van Doren Stern wrote in 1939 and published privately in 1943. The film is one of the most beloved in American cinema, and has become traditional viewing during the Christmas season.The film stars James Stewart as George Bailey, a man who has given up his dreams to help others, and whose imminent suicide on Christmas Eve brings about the intervention of his guardian angel, Clarence Odbody (Henry Travers). Clarence shows George all the lives he has touched, and how different life in his community of Bedford Falls would be if he had never been born.It's a Wonderful Life is now considered one of the greatest films of all time. It was nominated for five Academy Awards, including Best Picture, and has been recognized by the American Film Institute as one of the 100 best American films ever made, as number 11 on its initial 1998 greatest movie list, as number 20 on its revised 2007 greatest movie list, and as number one on its list of the most inspirational American films of all time. Capra revealed that it was his personal favorite among the films he directed and that he screened it for his family every Christmas season.