Splendid old woman and daughter (5)
I believe the answer is:
grand
'splendid' is the definition.
(I've seen this in other clues)
'old woman and daughter' is the wordplay.
'old woman' becomes 'gran' (I've seen this in other clues).
'and' means one lot of letters go next to another.
'daughter' becomes 'd'.
'gran'+'d'='GRAND'
(Other definitions for grand that I've seen before include "pair of monkeys?" , "sum of money" , "1000, colloquially" , "Stately - splendid" , "PS1k" .)