Index: b/g10/tdbio.c
===================================================================
--- b/g10/tdbio.c
+++ b/g10/tdbio.c
@@ -477,7 +477,7 @@
 int
 tdbio_set_dbname( const char *new_dbname, int create, int *r_nofile)
 {
-    char *fname;
+    char *fname, *p;
     struct stat statbuf;
     static int initialized = 0;
 
@@ -513,6 +513,20 @@
       /* OK, we have the valid trustdb.gpg already.  */
       return 0;
 
+    /*
+     * Make sure the directory exists.  This should be done before
+     * acquiring the lock, which assumes the directory existence.
+     */
+    p = strrchr( fname, DIRSEP_C );
+    assert(p);     /* See the code above.  Always, it has DIRSEP_C. */
+    *p = 0;
+    if( access( fname, F_OK ) ) {
+        try_make_homedir( fname );
+        if (access (fname, F_OK ))
+            log_fatal (_("%s: directory does not exist!\n"), p);
+    }
+    *p = DIRSEP_C;
+
     take_write_lock ();
 
     if( access( fname, R_OK ) ) {
@@ -525,18 +539,8 @@
 	    FILE *fp;
 	    TRUSTREC rec;
 	    int rc;
-	    char *p = strrchr( fname, DIRSEP_C );
 	    mode_t oldmask;
 
-	    assert(p);
-	    *p = 0;
-	    if( access( fname, F_OK ) ) {
-		try_make_homedir( fname );
-                if (access (fname, F_OK ))
-                  log_fatal (_("%s: directory does not exist!\n"), fname);
-	    }
-	    *p = DIRSEP_C;
-
 	    oldmask=umask(077);
             if (is_secured_filename (fname)) {
                 fp = NULL;