diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index 4b1adfb38f2..7ffdcd13681 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -249,8 +249,8 @@ const CWalletTx* CWallet::GetWalletTx(const uint256& hash) const
 
 void CWallet::UpgradeKeyMetadata()
 {
-    AssertLockHeld(m_spk_man->cs_wallet);
     if (m_spk_man) {
+        AssertLockHeld(m_spk_man->cs_wallet);
         m_spk_man->UpgradeKeyMetadata();
     }
 }