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Billy Crystal and Bette Midler team up as a couple tasked with looking after their grandkids in the generation-gap comedy Parental Guidance, out Christmas Day, and we have a first look at the new trailer!

Video: Billy Crystal's Hilarious Oscar Trailer

Inspired by his own real-life experiences, Crystal plays Artie, a grandfather who's used to calling the shots. When his eager-to-please wife Diane (Midler) agrees to babysit their three grandkids -- much to Artie's chagrin -- modern problems collide with Artie and Diane's old school methods of tough rules. But despite the numerous problems that come up -- yielding hilarious comedic dividends -- the family ultimately learns that they can come together by embracing the best of both worlds.

Marisa Tomei and Tom Everett Scott also star as the kids' type-A helicopter parents.