Activating and deactivating instructions? [verizon]

[Vindor]

I will be swapping the iPhone 5 from a non unlimited line to the unlimited data line. I am over 400 miles away from the other lines phone. What is the easiest process I can use to do this?

Can I activate the iphone 5 by calling *228, then tell them to call *228 on the other lines phone to deactivate the iPhone and reactivate the phone that was previously on it. Then switch the iPhone to my line and activate it?

Is there an easier way(if that way would even work) to do this? Also is there any fees for doing this, and will the other phone lose any contacts or other data from doing this?

Thanks!