No, During William Wallace's life the Scots Monarchs were:
Alexander III King of Scots - 4 September 1241 – 19 March 1286
Margaret Maid of Norway - Was queen-designate of the Scots from 1286 until her death in 1290 in Orkney.
John Balliol - Was King of Scots from 1292 to 1296.
Between the death of Margaret and after the abdication of Balliol Scotland was governed by Guardians of Scotland who were regents of the Kingdom of Scotland from 1286 until 1292 and from 1296 until 1306. William Wallace was one of the Guardians during the Second Interregnum 1296–1306.
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