diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index ecf18fbe783..625695faf7a 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -1747,11 +1747,11 @@ bool CWallet::ImportScriptPubKeys(const std::string& label, const std::set<CScri
     return true;
 }
 
-void CWallet::FirstKeyTimeChanged(const ScriptPubKeyMan* spkm, int64_t new_birth_time)
+void CWallet::MaybeUpdateBirthTime(int64_t time)
 {
     int64_t birthtime = m_birth_time.load();
-    if (new_birth_time < birthtime) {
-        m_birth_time = new_birth_time;
+    if (time < birthtime) {
+        m_birth_time = time;
     }
 }
 
@@ -3480,10 +3480,12 @@ LegacyScriptPubKeyMan* CWallet::GetOrCreateLegacyScriptPubKeyMan()
 
 void CWallet::AddScriptPubKeyMan(const uint256& id, std::unique_ptr<ScriptPubKeyMan> spkm_man)
 {
+    // Add spkm_man to m_spk_managers before calling any method
+    // that might access it.
     const auto& spkm = m_spk_managers[id] = std::move(spkm_man);
 
     // Update birth time if needed
-    FirstKeyTimeChanged(spkm.get(), spkm->GetTimeFirstKey());
+    MaybeUpdateBirthTime(spkm->GetTimeFirstKey());
 }
 
 void CWallet::SetupLegacyScriptPubKeyMan()
@@ -3516,7 +3518,7 @@ void CWallet::ConnectScriptPubKeyManNotifiers()
     for (const auto& spk_man : GetActiveScriptPubKeyMans()) {
         spk_man->NotifyWatchonlyChanged.connect(NotifyWatchonlyChanged);
         spk_man->NotifyCanGetAddressesChanged.connect(NotifyCanGetAddressesChanged);
-        spk_man->NotifyFirstKeyTimeChanged.connect(std::bind(&CWallet::FirstKeyTimeChanged, this, std::placeholders::_1, std::placeholders::_2));
+        spk_man->NotifyFirstKeyTimeChanged.connect(std::bind(&CWallet::MaybeUpdateBirthTime, this, std::placeholders::_2));
     }
 }
 
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
index bc45010200d..a1bf3784c95 100644
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -685,8 +685,8 @@ public:
     bool ImportPubKeys(const std::vector<CKeyID>& ordered_pubkeys, const std::map<CKeyID, CPubKey>& pubkey_map, const std::map<CKeyID, std::pair<CPubKey, KeyOriginInfo>>& key_origins, const bool add_keypool, const bool internal, const int64_t timestamp) EXCLUSIVE_LOCKS_REQUIRED(cs_wallet);
     bool ImportScriptPubKeys(const std::string& label, const std::set<CScript>& script_pub_keys, const bool have_solving_data, const bool apply_label, const int64_t timestamp) EXCLUSIVE_LOCKS_REQUIRED(cs_wallet);
 
-    /** Updates wallet birth time if 'new_birth_time' is below it */
-    void FirstKeyTimeChanged(const ScriptPubKeyMan* spkm, int64_t new_birth_time);
+    /** Updates wallet birth time if 'time' is below it */
+    void MaybeUpdateBirthTime(int64_t time);
 
     CFeeRate m_pay_tx_fee{DEFAULT_PAY_TX_FEE};
     unsigned int m_confirm_target{DEFAULT_TX_CONFIRM_TARGET};