Many thanks for all the useful and interesting responses!!
The main will was written in 1994 which is where that date comes from. All the other executors and beneficiaries are "family" and know each other well and it was some of them who wanted to pass it to the lawyers, who they felt had magical powers, so we could expedite matters. However, the lawyers told us on Friday that they cant help in this regard and it is down to us to track her down as that is indeed the executors role. They have no magical powers!!
I have now well and truly taken on this task for all kinds of reasons and I thank you for your help.
We will first target local friends and colleagues at the deceased's location. We will place ads if relevant. I will check baptism records for the local chapels. The given address is in a nice village in the Cotswolds so some of us fancied a day trip there where we will tap any local resources. There's always one resident who knows everything that has passed in village life since way before 1994!!!
Noted that there is no trust mentioned so yes we will assume she is over 18 in 1994.
I will also review the ERs in a more systematic manner than I have so far, i.e. searching Ancestry and FindMyPast etc. Many thanks for the good tips given in this regard.
We are also approaching the deceased's local employer where she worked all her life as they may know the name of Nicola's parent(s) who the deceased may have worked with.
Will keep you posted. Many thanks again.