diff --git a/src/lightning/pytorch/callbacks/model_checkpoint.py b/src/lightning/pytorch/callbacks/model_checkpoint.py
index 85bfb65c0ea6e..ba59f693e67bb 100644
--- a/src/lightning/pytorch/callbacks/model_checkpoint.py
+++ b/src/lightning/pytorch/callbacks/model_checkpoint.py
@@ -238,6 +238,16 @@ def __init__(
         self.auto_insert_metric_name = auto_insert_metric_name
         self._save_on_train_epoch_end = save_on_train_epoch_end
         self._enable_version_counter = enable_version_counter
+        self.dirpath: Optional[_PATH] = dirpath
+        self.filename = filename
+        self.kth_value: Optional[Tensor] = None
+        self._mode = mode
+
+        self.__init_state()
+        self.__init_triggers(every_n_train_steps, every_n_epochs, train_time_interval)
+        self.__validate_init_configuration()
+
+    def __init_state(self) -> None:
         self._last_global_step_saved = 0  # no need to save when no steps were taken
         self._last_time_checked: Optional[float] = None
         self.current_score: Optional[Tensor] = None
@@ -248,19 +258,12 @@ def __init__(
         self.last_model_path = ""
         self._last_checkpoint_saved = ""
 
-        self.kth_value: Tensor
-        self.dirpath: Optional[_PATH]
-        self.__init_monitor_mode(mode)
-        self.__init_ckpt_dir(dirpath, filename)
-        self.__init_triggers(every_n_train_steps, every_n_epochs, train_time_interval)
-        self.__validate_init_configuration()
-
     @property
     @override
     def state_key(self) -> str:
         return self._generate_state_key(
             monitor=self.monitor,
-            mode=self.mode,
+            mode=self._mode,
             every_n_train_steps=self._every_n_train_steps,
             every_n_epochs=self._every_n_epochs,
             train_time_interval=self._train_time_interval,
@@ -268,6 +271,10 @@ def state_key(self) -> str:
 
     @override
     def setup(self, trainer: "pl.Trainer", pl_module: "pl.LightningModule", stage: str) -> None:
+        self.__init_state()
+        self.__set_monitor_mode(self._mode)
+        self.__set_ckpt_dir(self.dirpath, self.filename)
+
         dirpath = self.__resolve_ckpt_dir(trainer)
         dirpath = trainer.strategy.broadcast(dirpath)
         self.dirpath = dirpath
@@ -469,7 +476,7 @@ def __validate_init_configuration(self) -> None:
                 " configuration. No quantity for top_k to track."
             )
 
-    def __init_ckpt_dir(self, dirpath: Optional[_PATH], filename: Optional[str]) -> None:
+    def __set_ckpt_dir(self, dirpath: Optional[_PATH], filename: Optional[str]) -> None:
         self._fs = get_filesystem(dirpath if dirpath else "")
 
         if dirpath and _is_local_file_protocol(dirpath if dirpath else ""):
@@ -478,7 +485,7 @@ def __init_ckpt_dir(self, dirpath: Optional[_PATH], filename: Optional[str]) ->
         self.dirpath = dirpath
         self.filename = filename
 
-    def __init_monitor_mode(self, mode: str) -> None:
+    def __set_monitor_mode(self, mode: str) -> None:
         torch_inf = torch.tensor(torch.inf)
         mode_dict = {"min": (torch_inf, "min"), "max": (-torch_inf, "max")}