Years ago, when I lived in Utah, there was a video store that sold edited copies of films for family viewing. The studios got mad and shut them down, claiming copyright infringement. But, it is legal to edit movies, the problem the studios had (from my limited understanding) was selling the movie after it had been edited.
Here's a company that will edit movies for you:
You have to send them the movie and they'll take care of it. I cannot vouch for them as I have never used them and am unfamiliar with them. But, I know some folks in Utah now use services like this. Hope it helps!