The Worksheet Function is not real sophisticated.   If you want more
you will have to code your own User Defined Function.   I believe
all of those below would be valid, some would come out correctly
and some won't.    For my own name I have automatic correction.

Mike O'Conner
Mike O'Shaughnessy
Mike's Diner
Pat van Buren
George Mackey, III
George MacKey    
George Macky
George Mackie
Graeme McRae

Then some people do capitalize  van, van der, vander,  von
 
My suggestion would be to use a macro and fix up the exceptions 
afterwards that fit your own requirements.  Most of the exceptions 
will be the area
Mc  Mac  O'  van  von

if you want to fix up in programming code, you can throw in things
like this
   Selection.Replace What:=" mcr", Replacement:=" McR", _
      LookAt:=xlPart, SearchOrder:=xlByRows, MatchCase:=False
   Selection.Replace What:="'s ", Replacement:="'s ", _
      LookAt:=xlPart, SearchOrder:=xlByRows, MatchCase:=False     

for more infomation see
  http://www.mvps.org/dmcritchie/proper.htm