The Liza Johnson-directed dramatic comedy is based on the title tale from Alice Munro's short story collection Hateship, Friendship, Courtship, Loveship, Marriage, according to The Hollywood Reporter.
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Wiig will star as a nanny hired to look after a wild teenager (Steinfeld), who orchestrates a romance between the woman and her recovering addict father (Pearce).
Nolte will play the girl's grandfather, who blames Pearce for the death of his daughter.
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Wiig recently wrapped The Secret Life of Walter Mitty with Ben Stiller. Pearce has lately been shooting Iron Man 3.
Steinfeld has just completed filming on Can a Song Save Your Life? and Ender's Game.
Nolte will next appear in Gangster Squad.
Watch a trailer for Gangster Squad below:
