Create a python script to find the last element of a given list.
list = [1, 2, 3, 4, 5]
def last_element(list):
    """Find the last element of a given list."""
    return list[-1]

# Usage Example 
list = [1, 2, 3, 4, 5]
last_element = last_element(list)
print(last_element)  # 5