Paste setting in Word 2010 and onwards

If you want to set "Keep Text Only" as your default, you can do the following:

1. The default paste: 
2. Click the dropdown at the top and choose "More Commands": 
3. Click Advanced: 
4. Change the defaults (to Keep Text Only): 
5. Repeating the same paste defaults to text only: 

(Source: http://superuser.com/questions/407113/shortcut-in-word-or-excel-for-special-paste)