Life may not have a reset feature, but iPads do. If, for some reason, you want to return your iPad to its default settings, you can reset them. The last item under iPad's General settings is Reset. When you click it, you get options for resetting the following:
Reset All Settings: Every one of the preferences and settings are reset, though information you've added to apps like Calendar and Contacts doesn't change at all.
Erase All Content and Settings: This one both resets your settings and erases information you've added to apps like Calendar and Contacts. This is useful if you plan to sell your iPad.
Reset Network Settings: By choosing this, any networks you've set up are removed. iPad will also turn off Wi-Fi, and then turn it on again, which disconnects you from any network you're connected to. Note that the Ask to Join Networks setting stays on.
Reset Keyboard Dictionary: When you turn down iPad suggestions of words as you type, you can add words to the keyboard dictionary. You do this by tapping a suggested word, which rejects it but adds the current spelling of the word to the dictionary. If you don't want to keep all those added words, use this reset option.
Reset Home Screen Layout: If you want to get back to the original home screen you saw when you took iPad out of its box, choose this reset option.
Reset Location Warnings: When you use an app like Maps that checks your location, it asks you if it's okay to do that. When you tap OK to let it proceed two times, it stops asking. If you want it to start asking again, tap this reset option.