Scan the document then use Microsoft Office Document Imaging to send the document to Word. This will give you a word document, which you can freely format and edit.
This works even better if you have a scanner that will convert your entire scanned document to a PDF in one go (rather than page by page). Then just print the PDF to file as a TIFF file, then import into Microsoft Office Document Imaging and send to Word.
This works best when you have a hard copy of the original document but no soft copy (be that the original document or a PDF from which you can copy and paste text).