Solvent, cut off daughter and son for a laugh (2,3)
I believe the answer is:
in fun
'for a laugh' is the definition.
(I've seen this in another clue)
I don't understand the remainder of the clue.
(Other definitions for in fun that I've seen before include "Not intended seriously" , "As a joke - not seriously" , "to raise a smile?" , "for a laugh" .)