ludovica,
Regrettably, it's a long time since I did Latin too.
I can't read the small print, but can say that you should read "v" as "u", and "uxor" is "spouse". I think (am not sure) that "obiire" means "to die" and "obiit" is the third person singular. I think that "O spes sola" means "O only hope". "Nulla" is "none", The middle section is blacked out but I think I see a word beginning with "defunct..." meaning "dead".
The other thing I can say to you is that I think there is a Latin tutorial on the National Archives site. If you look at it, it may help you to decipher your inscription.
Or alternatively, someone who is a Latin scholar may come on here and do it all!

MarieC