Is there an 'un-selected' state to be made?

After playing with triggers some more, I submitted a request ticket to Articulate support team and with their help, I have figured out my issue. Will post here in case someone else gets stuck with it as well. The trick was to change the action from 'set' the variable to 'toggle', which will ensure that if users change their mind and unselect a checkbox, the variable changes again. 

So, if you want a checkbox on one slide to change the state of an object on a different slide:

1. Create a True/False variable (keep the default value False)

2. On the slide where your checkbox is, set a trigger: Toggle True/False variable if user clicks Checkbox A

3. On the slide where the object has to change states, add a variable: Change the state of Object A to hidden when the timeline starts on this layer if the True/False variable is False.