ParagraphFormat.Duplicate (Word)

Returns a read-only ParagraphFormat object that represents the paragraph formatting of the specified paragraph.

You can use the Duplicate property to pick up the settings of all the properties of a duplicated ParagraphFormat object. You can assign the object returned by the Duplicate property to another object of the same type to apply those settings all at once. Before assigning the duplicate object to another object, you can change any of the properties of the duplicate object without affecting the original.

ActiveDocument.Range(Start:=0, End:=0).InsertAfter _ 
 "Paragraph Number 1" 
Set myDup = ActiveDocument.Paragraphs(1).Format.Duplicate 
myDup.LeftIndent = InchesToPoints(1) 
Selection.InsertAfter "This is a new paragraph." 
Selection.Paragraphs.Format = myDup