We study the consequences of the approximately trigonal (D 3d ) point symmetry of the transition metal (M) site in two-dimensional van der Waals MX2 dihalides and MX3 trihalides. The trigonal symmetry leads to a 2-2-1 orbital splitting of the transition metal d shell, which may be tuned by the interlayer distance, and changes in the ligand-ligand bond lengths. Orbital order coupled to various lower symmetry lattice modes may lift the remaining orbital degeneracies, and we explain how these may support unique electronic states using ZrI2 and CuCl2 as examples, and offer a brief overview of possible electronic configurations in this class of materials. By building and analysing Wannier models adapted to the appropriate symmetry we examine how the interplay among trigonal symmetry, electronic correlation effects, and p-d orbital charge transfer leads to insulating, orbitally polarized magnetic and/or orbital-selective Mott states. Our work establishes a rigorous framework to understand, control, and tune the electronic states in low-dimensional correlated halides. Our analysis shows that trigonal symmetry and its breaking is a key feature of the 2D halides that needs to be accounted for in search of novel electronic states in materials ranging from CrI3 to α-RuCl3.