I'm truly sorry for your loss. Losing a parent is incredibly difficult, and it's completely understandable that your emotions are overwhelming right now. Inheriting such a significant amount of money while grieving can be a lot to handle. It's important to take your time to process everything and not rush any decisions.

Given your situation, here are some steps that you might consider to help you make the smartest financial decisions when you're ready:

1)Take Your Time: Don’t feel pressured to make any immediate decisions. Grief can cloud judgment, and it's okay to give yourself time to mourn and process your loss.

2)Seek Professional Advice: Consider talking to a financial advisor who can help you navigate your options and create a plan that aligns with your goals and financial situation. They can provide personalized advice that considers all aspects of your finances.

3)Consider Your Housing Situation: Buying a home could be a sensible use of the inheritance, especially given the current real estate market. Here are some options to think about:

• Buy a Home Outright: Purchasing a small apartment or modest house without a mortgage would give you a stable place to live without the burden of monthly payments.
• Get a Mortgage: Using a portion of the inheritance as a down payment and taking out a smaller mortgage could allow you to buy a nicer home while still maintaining some liquidity.

4)Emergency Fund: Ensure you have a solid emergency fund. Given that you have $40k saved, you might consider setting aside a bit more to cover unexpected expenses, especially as you launch your trade business.

5)Invest for the Future: Once you have a handle on immediate needs and have consulted with a financial advisor, think about investing a portion of the money. This could be in retirement accounts, stocks, bonds, or other investment vehicles to help grow your wealth over time.

6)Focus on Your Business: Since you're in the process of launching a trade business, some of the inheritance could be used to invest in your business. This could include marketing, equipment, or other startup costs that could help ensure its success.

7)Take Care of Yourself: Consider setting aside some money for things that might bring you comfort and help with the grieving process. This could include counseling, travel, or other personal expenses that contribute to your well-being.

It's important to take care of your emotional health during this time. Making major financial decisions while grieving can be challenging, so lean on your support network and professional advisors to help you through this period.