Wedding invite wording

I would do either:

Option 1: "Together with their parents, (Insert bride & groom's names) are requesting...."

Option 2: "John Smith and Jane Doe (OR John Smith and Jane Smith, if they still share a last name) are requesting the honor of your presence at the wedding of their daughter, (insert bride's name) to (insert groom's name), the son of Mike & Kathy Johnson."

I'd use "Together with their families, X and Y are requesting the honor of your presence at the celebration of their marriage" or some wording like that. You can also say "together with their parents" or just leave that language off entirely. My FH and I ultimately decided just to say "Please join us for the wedding of..." without saying that our families are hosting it, even though my parents are chipping in a little bit.

That's what we did. We're paying for about 90% of this wedding ourselves. My FH comes from a blended family and we didn't want to offend anyone.