I name after that relative?

                                  Answer:
   
   There are a number of different approachs. Some take the first letter
   of the relatives name, and choose a different name beginning with the
   same letter. Unfortunately, this loses the original meaning of the
   name. Others choose an arbitrary English name, but retain the
   relative's Hebrew name. Kolach recommends choosing an English name
   with the name meaning as the Hebrew name. Consider the English name of
   Mildred. Mildred is either from the Latin, meaning "Sweet Singer", or
   from the Teutonic, meaning "Strength". It has Hebrew equivalents of
   Amtzaw, Gavreelaw, N'eemaw, Neevaw, Reenaw, Sheeraw, and T'heelaw.
   Thus, less-dated English equivalents might be Shira (Song), Valerie
   (Strong), Gabrielle (G-d is my Strength), Renana (Joy or Song), or
   Carol (Melody or Song).
   
   One source asked this question of Rav Avigdor Neventzhal, the Rav of
   the Old City of Jerusalem. Rav Neventzhal said that while there is no
   requirement to name after somone, if there is a desire to attach the
   deceased relatives characteristics to the newborn and/or to tie one
   soul to the other (according to Kabalah) then the name must not be
   altered. According to this Rav, taking the first letter of name A and
   creating name B, thus, does not constitute naming after someone, and
   combining names from different people also does not result in "naming
   after" someone. So, the answer for those that consider Rav Neventzhal
   authoritative is that you can't change the name.
   
   As usual: two Jews, multiple opinions.