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It means laugh wan finish my life meaning "laugh is about to take my life". Used when people see, hear, listen and read funny things.

The word is of Nigerian origin and mainly used on twitter and Facebook in reply to funny posts and other stuffs.
Lwfml! You got jokes bruv.
Ist Person: Yo momma is so poor she can't pay attention
2nd person: Lwfml
by Jibbz April 11, 2011
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