Replace First Name / Last Name with just "Name" ?

Replace First Name / Last Name with just "Name" ?

Separating peoples names into "first" and "last" names can be problematic. Many people have between zero and many "first" and "last" (or "given" and "family"), names, so in our system we just store "Name" and "Preferred Name", where the person can put a full name, (however long or short their name is), in the "Name" field for billing and any legal-ish correspondance, and if they want to be referred to as something else day-to-day they can enter a "Preferred Name".

CRM Seems to lock us into a First Name / Last Name solution. Looking at the Contacts module we can customize the First Name field, but not the Last Name. I'd like to be able to rename "Last Name" to simply "Name". Is there a way to do this so we can handle names in a more accepting, flexible, way within our organization?