I need to reset my old iPad, but forgot restrictions passcode and don't have an iTunes backup I found an old iPad 2 generation (what I don't use anymore) and wish to gift it to my parents.

A lot of personal data on this iPad.

I need to reset my old iPad, but forgot restrictions passcode and don't have an iTunes backup before restrictions passcode.

Howto reset iPad with factory settings?
Within iTunes make a manual backup of the old iPad.  Once that is in place you can follow the steps outlined at this blog post...at least if you are working with iOS 6.

For iOS 7 or 8, follow the steps outlined at my blog post on how to actually retrieve or recover your passcode without resetting to factory defaults.