Yes... store all your yeast in the fridge until you plan to brew.
I'd pull out the dry yeast the morning you're going to brew and get it to room temp in your kitchen.
I re-hydrate when I'm close flameout (on my wort boil) by boiling a cup of water and letting it cool to ~85 degrees. sprinkle the yeast on the top, let it sit (don't stir) for about 20 minutes. Once my wort is down to ~65/70 degrees (in the carboy and aerated) I'll gently stir the yeast to get it into suspension and pitch the contents into my carboy. Cap and put it someplace ~68 degrees and let it rip.