Default Field Values

Default Field Values

Hi!
I'm trying to set up default field values, depending on the account a contact is associated with.
If I Create a contact for example I want the address fields to populate with the related accounts address.

The process would look like this
1. Create Contact
2. Select Account from lookup field
3. Automatically populate address field with the accounts address (without changing screens)
4. Enable edition of address fields (in case the contact has a custom address)