Switching data between MacBooks (everything from one to the other)

I need a faster notebook for business. My wife's MacBook is newer than mine and has agreed to switch with me.
Both laptops are backed up to the same Airport Time Capsule.
What is the best way to switch the data on both machines, from one to the other?
Thank you,
Bill

There are probably other ways to do this.
One way to accomplish what you want to do is to make a current backup of both computers. For an option in case there is a Time Machine problem, I would also make a clone of each hard drive and temporarily store the clone on the Time Capsule.
Boot into the Recovery Volume (hold down command - R or hold down option key) and restart. I would run Disk Utility Repair Permissions and Verify/Repair. Then use Disk Utility to erase the disk. The format is Mac OS Extended (Journaled). Then reinstall the OS.
Reinstall OS
Reboot normally and then attempt to inherit the Time Machine backup for the computer you are working on. Use Setup Assistant or Migration Assistant to restore the backup. Using the same user account name as on the old computer may make things easier.
Inherit a Backup
Inherit a Backup (2)
If for some reason you have trouble inheriting the Time Machine backup, attach the Time Capsule to the computer, mount the clone in Finder, and copy the files you want to restore.
Once everything is completed, you can delete the clones from the Time Capsule to allow more room for the Time Machine backups.
I would seriously consider buying a 2nd Time Capsule and create two separate backups before attempting anything. One backup isn’t enough because hard drives do fail. Time Machine will allow you to backup to 2 disks and will alternate between them. Instead of using Time Machine on the 2nd hard drive, you might want to consider using the second drive to store a clone on because you can make a bootable clone.
Cloning programs.
Clone  - Carbon Copy Cloner (Often recommended as it has more features than some others)
Clone – Data Backup
Clone – Deja Vu
Clone  - SuperDuper
Clone - Synk
Clone Software – 6 Applications Tested

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