diff --git a/docs/release-notes/release-notes-0.15.0.md b/docs/release-notes/release-notes-0.15.0.md
index 24ecd3f53..14e74678e 100644
--- a/docs/release-notes/release-notes-0.15.0.md
+++ b/docs/release-notes/release-notes-0.15.0.md
@@ -68,6 +68,10 @@ then watch it on chain. Taproot script spends are also supported through the
 
 * [Fixed a bug that would cause lnd to be unable to parse certain PSBT blobs](https://github.com/lightningnetwork/lnd/pull/6383).
 
+* [Fixed a bug in the `btcwallet` that caused an error to be shown for
+  `lncli walletbalance` in existing wallets after upgrading to
+  Taproot](https://github.com/lightningnetwork/lnd/pull/6379).
+
 ## Misc
 
 * [An example systemd service file](https://github.com/lightningnetwork/lnd/pull/6033)
diff --git a/lnwallet/btcwallet/btcwallet.go b/lnwallet/btcwallet/btcwallet.go
index 0cb6b5ad3..41bec9410 100644
--- a/lnwallet/btcwallet/btcwallet.go
+++ b/lnwallet/btcwallet/btcwallet.go
@@ -324,6 +324,34 @@ func (b *BtcWallet) Start() error {
 		}
 	}
 
+	// Because we might add new "default" key scopes over time, they are
+	// created correctly for new wallets. Existing wallets don't
+	// automatically add them, we need to do that manually now.
+	for _, scope := range waddrmgr.DefaultKeyScopes {
+		_, err := b.wallet.Manager.FetchScopedKeyManager(scope)
+		if waddrmgr.IsError(err, waddrmgr.ErrScopeNotFound) {
+			// The default scope wasn't found, that probably means
+			// it was added recently and older wallets don't know it
+			// yet. Let's add it now.
+			addrSchema := waddrmgr.ScopeAddrMap[scope]
+			err := walletdb.Update(
+				b.db, func(tx walletdb.ReadWriteTx) error {
+					addrmgrNs := tx.ReadWriteBucket(
+						waddrmgrNamespaceKey,
+					)
+
+					_, err := b.wallet.Manager.NewScopedKeyManager(
+						addrmgrNs, scope, addrSchema,
+					)
+					return err
+				},
+			)
+			if err != nil {
+				return err
+			}
+		}
+	}
+
 	scope, err := b.wallet.Manager.FetchScopedKeyManager(b.chainKeyScope)
 	if err != nil {
 		// If the scope hasn't yet been created (it wouldn't been