For a little background, I (35M) have a friend (33F) I met in college over a decade ago, and we became very good friends and were very good friends for several years after college, even neighbors for a few years.
They had a kid, who is now 6 or 7, and before he was born, I decided to open a 529 for their child and have been investing money into it annually, and it's now worth about $7,000. They knew about the 529 from the start, as I asked if they would feel comfortable with me opening it as a gift when they told me and my wife they were having a kid.
Fast forward to a few years ago, and our friendship has grown apart. We rarely ever talk to eachother anymore, and even when I occasionally send them a message like 'hope you and your kids are doing well, miss you guys' she seldom responds, and has left me on read before as well. I have met their kid before and I have nothing but love for them, but it's become hard to deny that our friendship is all but entirely faded away, and I don't foresee that it's likely to be mended again; we live over 300 miles apart, and are basically at no communication at this point.
Given this, I am currently sitting on this 529 account for their child, when we are basically not even friends anymore. Their child is legally the beneficiary of this money, and it was intended as a gift, but it feels very odd to just keep donating money to give a graduation gift to a kid I hardly know 11 years from now. But on the other hand it feels kinda scummy to just remove them as the beneficiary and close the account.
What do you think I should do? Should I close the 529 or just allow it to mature and give it to their kid? Should I attempt to mend this relationship or let it fade away?