My opponent plays the living weapon Lashwrithe. Afterwards he spends 4 life to equip it to his Vault Skirge. While doing this, I kill his Vault Skirge with a Red Sun's Zenith.

What I think will happen:

• He loses 4 life
• His Germ token under the living weapon dies
• His Vault Skirge dies
• His Lashwrithe lies around as equipment ready for the next try
• I smile

Is this correct? Does equipping use the stack to enable such a maneuver? And does the Germ token really die if equipping goes ill, or does the equipping never take place because it has no valid target and the Germ lives happily ever after?