Insert Heart Shape, insert two Rectangles and insert leaves Shape. One longer rectangle move to Heart Shape, second shorter rectangle move it on the bottom and will be used later. Leaves Shape move  under Heart Shape. 

Insert Text. You need a font without gaps. If you have font with gaps you can play with Spacing to negative value and Weld it (blue markers what you need to get it right). Gaps will not cut the letters as one piece. 

Select Heart Shape, longer Rectangle, Leaves Shape, Text, shorter Rectangle and Combine → Unite. 

You are Done :-) 

You can play with engraving text on Heart Shape or you can cut another Heart Shape as I have in this tutorial ;-)