User + User Profile update with Class Based View

Yes, this is finally what I was looking for. Thanks for your answer and time spend on this.

Here is final version:
Form:

class ProfileUpdateForm(forms.ModelForm):
    first_name = forms.CharField(max_length=32)
    last_name = forms.CharField(max_length=32)
    class Meta:
        model = UserProfile
        fields = ['picture']

View:

class UserSettings(LoginRequiredMixin, UpdateView):
    template_name = 'users/settings.html'
    context_object_name = 'user'
    queryset = UserProfile.objects.all()
    form_class = ProfileUpdateForm

    def get_context_data(self, **kwargs):
        context = super(UserSettings, self).get_context_data(**kwargs)
        user = self.request.user
        context['profile_form'] = ProfileUpdateForm(instance=self.request.user.userprofile, initial={'first_name': user.first_name, 'last_name': user.last_name})
        return context

    def form_valid(self, form):
        profile = form.save(commit=False)
        user = profile.user
        user.last_name = form.cleaned_data['last_name']
        user.first_name = form.cleaned_data['first_name']
        user.save()
        profile.save()
        return HttpResponseRedirect(reverse('users:user-profile', kwargs={'pk': self.get_object().id}))