I seem to remember using MS Word Template files where I could set things like margins, headers fonts etc and save such a template and add it to the right click > New menu. This is going back some time mind, late '90's perhaps...
The beauty of this method was as you could never override the template itself you were greeted with the open doc and at close you were prompted for a 'save-as' and location. The default action of the right click > New MS Word Doc simply creates a "New Microsoft Word Document" in whatever directory you happen to be in.
Is this still possible with Office365 and if so how?