open a word template from inside excel

I do not know if this is actually possible but...

I want the ability to open a word document from inside my excel spreadsheet. More specifically, I want a button (or something) that will run a macro that will open a word template (from g:\templates) and then save it to a new location (same folder as the excel spreadsheet--this changes though for example: g:\files\Smith-123 or g:\files\Jones-321).

Thank you in advance for any help, even if it's to tell me this is not possible.

thanks for the tip.