Touch up for fret ends......

I have been working on this guitar for the last few days. The problem is that the fingerboard has shrunk causing the fret ends to stick out. I have no problem dressing them. The problem is the finish. At every fret the laquer has popped off, leaving a small crater. My question is.. Should I touch the finish up before I dress the fret ends or after. My thoughts are that I will touch them up before, and level the finish while dressing the ends. Any advice would help.

Thanks