I am currently trying to find a way to change the name on the account I have. I'm moving out of my place within a week's time and wanted to change the name on the account to the other renter that's still living there. I asked a customer service rep on live chat and they said "they didn't think it could be done" possibly because I'm under contract? After browsing other forum posts, it looks like other people may have had some help in resolving this issue.
I believe that you probably will have to cancel the service as of whatever date you are leaving then whoever is still living there will have to reestablish the account under their name. I would check with Verizon but I think that is the method.