Richard's Funeral Home Inc. was established in 1894 by a husband and wife, who also had a furniture store in New Madrid.
They had two sons, Capito Bestus Richards and Lucious Augustus Richards, and the brothers soon took over the business.
During the Depression Era , Leo Hedgepeth started work at the funeral home at around 1936. In the early 1940s, Lucious Augustus volunteered to fight in WWII and left the operation duties of the funeral home with Leo. Upon his return from the war, Lucious decided that he wanted to be a farmer instead of in the funeral business. Lucious ended up living in Florida shortly thereafter. At some point between his return from the war and his move to Florida, Lucious sold his half of the funeral home to Leo, making Leo and Capito as equal partners.
When Lucious moved to Florida, he granted guardianship of Capito to Leo. Capito and Leo owned the funeral home for many years.
Richards Funeral Home Inc., New Madrid location was purchased by its present owner, Jimmy McSpadden in late 2004.
In 2007 Jimmy purchased the Lilbourn Ponder Funeral Home. Today both locations are under the Richards Funeral Home name.