I know I need to purchase newest version first, however I need to backup /install larger HD

1) I know I need to always purchase newest versions of software when expecting to complete a critical task such as backup and restore to hard drives. You have to have the right size hammer for the right size job.

2)I am going from a 250 GB Dell HD to 500 GB on a laptop and have made the HD purchase last week. Am confident after watching all of the videos about the physical change out of the equipment just wondering about the software protocol?

Questions:
Do I have to format the new drive after installation - the OS will be Win 7?

Are there other preparation steps involved?

Do I load the new (and legal) Acronis software on my 3TB Hitachi external backup HD and invoke both the backup and restore operations from the external HD?

What might I be missing along the way?

I appreciate your assistance as I need to replace larger HDs on two laptops before Grandchildren return to college, make a complete backup of a new laptop I just purchased for myself and finally make a complete backup of historical tax and financial records from a desktop system project that has over thirty five years of personal finances.

Thank you for your suggestions!