I am a firm believer thaT :kakashi: is still alive. It would not be the first time somebody is brought back to life in this manga, so it is not imposible. If it does not occur this way, so be it. I'll live anyway. I will not believe Kakashi is dead until he is officialy pronounced dead, a ceremony conducted, and officialy burried.
As far as chakra, I look at it just like a blood transfer. Just enough to safe your life, but it does not mean that your blood will show somebody else DNA. It will maintain the individual's identity once it circulates through the body.