diff --git a/src/decompiler.rs b/src/decompiler.rs
index 33a3465d..00db2001 100644
--- a/src/decompiler.rs
+++ b/src/decompiler.rs
@@ -31768,10 +31768,30 @@ return None;
         // elif test would create a nested If at the same target, so keep
         // the Else open in that case.
         if let Some(top) = self.blocks.last() {
+            // A modern Else opened immediately after the then arm's
+            // unconditional skip has an authoritative finite span. A guard
+            // inside that span can share its merge without ending the Else:
+            // closing it here ejects the guarded query result and may read
+            // its local on the other arm before assignment. Keep older and
+            // inferred/try-else boundaries on their existing path.
+            let guarded_else_merge = self.version.at_least(3, 11)
+                && top.kind == BlockType::Else
+                && self.cur_offset > top.start
+                && self.cur_offset < top.end
+                && self.idx_of.get(&top.start).map_or(false, |&si| {
+                    si > 0 && {
+                        let skip = &self.instrs[si - 1];
+                        !skip.is_backward
+                            && skip.end() == top.start
+                            && skip.target == Some(top.end)
+                            && matches!(skip.op, Op::JUMP_FORWARD | Op::JUMP | Op::JUMP_ABSOLUTE)
+                    }
+                });
             if matches!(top.kind, BlockType::Else | BlockType::TryElse)
                 && top.end == target
                 && !top.is_elif
                 && self.cur_offset != top.start
+                && !guarded_else_merge
             {
                 self.close_blocks_at(target);
             }
diff --git a/tests/behavior/cases/b_guarded_else_merge.py b/tests/behavior/cases/b_guarded_else_merge.py
new file mode 100644
index 00000000..a2692415
--- /dev/null
+++ b/tests/behavior/cases/b_guarded_else_merge.py
@@ -0,0 +1,29 @@
+# MIN_VERSION: 3.11
+import asyncio
+
+async def awaited(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = 1
+    else:
+        row = await owner.fetch()
+        if row and row[0] is not None:
+            value = float(row[0])
+    owner.record(value)
+    return value
+
+
+class Owner:
+    def __init__(self, active, row):
+        self.active = active
+        self.row = row
+    async def fetch(self):
+        print("fetch", self.row)
+        return self.row
+    def record(self, value):
+        print("record", value)
+print(asyncio.run(awaited(Owner(True, (9,)))))
+print(asyncio.run(awaited(Owner(False, (9,)))))
+print(asyncio.run(awaited(Owner(False, (None,)))))
+print(asyncio.run(awaited(Owner(False, None))))
diff --git a/tests/fixtures/guarded_else_merge.py b/tests/fixtures/guarded_else_merge.py
new file mode 100644
index 00000000..96521e49
--- /dev/null
+++ b/tests/fixtures/guarded_else_merge.py
@@ -0,0 +1,67 @@
+# Versioned .pyc files are consumed by tests/integration.rs.
+
+# The finite else-span guard applies to Python 3.11+.
+
+async def awaited(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = 1
+    else:
+        row = await owner.fetch()
+        if row and row[0] is not None:
+            value = float(row[0])
+    owner.record(value)
+    return value
+
+
+async def synchronous(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = float(1)
+    else:
+        row = owner.fetch()
+        if row and row[0] is not None:
+            value = 2
+    owner.record(value)
+    return value
+
+
+async def attribute(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = float(active['total'])
+    else:
+        row = owner.row
+        if row and row[0] is not None:
+            value = float(row[0])
+    owner.record(value)
+    return value
+
+
+async def following_else_work(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = 1
+    else:
+        row = await owner.fetch()
+        if row and row[0] is not None:
+            value = 2
+        owner.record('queried')
+    owner.record(value)
+    return value
+
+
+async def independent(owner):
+    value = None
+    row = None
+    if owner.active:
+        value = 1
+    else:
+        row = await owner.fetch()
+    if row and row[0] is not None:
+        value = 2
+    return value
diff --git a/tests/integration.rs b/tests/integration.rs
index f4af5082..3a67b988 100644
--- a/tests/integration.rs
+++ b/tests/integration.rs
@@ -169,3 +169,68 @@ fn py314_hello() {
         "py3.14 hello",
     );
 }
+
+#[test]
+fn finite_else_span_keeps_its_inner_guard() {
+    for version in ["3.11", "3.12", "3.13", "3.14"] {
+        let (src, clean) = decompile_fixture(&format!("guarded_else_merge.{version}.pyc"));
+        assert!(clean, "Python {version}: output marked incomplete:\n{src}");
+        assert_contains(&src, &[
+            r#"async def awaited(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = 1
+    else:
+        row = await owner.fetch()
+        if row and row[0] is not None:
+            value = float(row[0])
+    owner.record(value)
+    return value"#,
+            r#"async def synchronous(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = float(1)
+    else:
+        row = owner.fetch()
+        if row and row[0] is not None:
+            value = 2
+    owner.record(value)
+    return value"#,
+            r#"async def attribute(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = float(active['total'])
+    else:
+        row = owner.row
+        if row and row[0] is not None:
+            value = float(row[0])
+    owner.record(value)
+    return value"#,
+            r#"async def following_else_work(owner):
+    value = None
+    active = owner.active
+    if active:
+        value = 1
+    else:
+        row = await owner.fetch()
+        if row and row[0] is not None:
+            value = 2
+        owner.record('queried')
+    owner.record(value)
+    return value"#,
+            r#"async def independent(owner):
+    value = None
+    row = None
+    if owner.active:
+        value = 1
+    else:
+        row = await owner.fetch()
+    if row and row[0] is not None:
+        value = 2
+    return value"#,
+        ], version);
+    }
+}
diff --git a/tests/pyc/guarded_else_merge.3.11.pyc b/tests/pyc/guarded_else_merge.3.11.pyc
new file mode 100644
index 00000000..226ca408
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diff --git a/tests/pyc/guarded_else_merge.3.12.pyc b/tests/pyc/guarded_else_merge.3.12.pyc
new file mode 100644
index 00000000..9d8e7958
Binary files /dev/null and b/tests/pyc/guarded_else_merge.3.12.pyc differ
diff --git a/tests/pyc/guarded_else_merge.3.13.pyc b/tests/pyc/guarded_else_merge.3.13.pyc
new file mode 100644
index 00000000..1c15b4af
Binary files /dev/null and b/tests/pyc/guarded_else_merge.3.13.pyc differ
diff --git a/tests/pyc/guarded_else_merge.3.14.pyc b/tests/pyc/guarded_else_merge.3.14.pyc
new file mode 100644
index 00000000..6ea01b6c
Binary files /dev/null and b/tests/pyc/guarded_else_merge.3.14.pyc differ