About to purchase an iPad3 and wish to transfer content of my iPad1. My wife will take my iPad1 How do I do this

I am about to purchase the new iPad3. I already have the iPad1 and my wife is going to make use of it. How do I change ownership from me to her, and keep the content of my existing iPad.?

If you want everything that's on your current iPad onto the new one, then you can first copy all purchases off the iPad to your computer's iTunes via File > Transfer Purchases. You can then backup your current iPad and restore the new iPad from that backup (a list of what is included in a backup is in this article - it excludes music, videos, synced photos). As the backup doesn't contain the actual apps, just their settings and content, for the restore to work completely you'll need all the relevant apps in your computer's iTunes library - otherwise the restore won't be able to install the apps and therefore their content (which is one reason to do File > Transfer Purchases, if that doesn't copy them over then you can re-download them for free : http://support.apple.com/kb/HT2519).
The restore won't copy passwords onto a different device, so you will need to re-enter your email, router, and any website passwords onto the new iPad.

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