I use ibeacons and like them, but it can get a little complicated in a smartthings context.
LOCATION TRACKING Has different restrictions in different countries
First, we should say that any tracking of location is subject to local laws, and while the US doesn’t really care about this for private company apps, many European countries care a lot. So some of the options that are available in the US are not available in other countries.
Life 360 has worked very hard to get their service into as many countries as possible, although it will have different features in different countries because of these local privacy laws.
For example, it was not available in France the last time I looked. But the good news is it is available in Italy, although I don’t know if the smartthings Integration is available there. That’s why all these things get tricky.
IBEACONS
The fact that the original poster has iPhones makes it all much easier. 
I beacons just work better with iPhones because the integration is at the OS level. With android phones they tend to only work if the tracking app is open on the phone, not usually what you want for Geopresence.
Next, most of the integrations involve an Ibeacon “reader“ app which can use a webhook to communicate with something which can then communicate with smartthings.
People used to use IFTTT for the SmartThings integration, but that was back when it was free. Now that it has a monthly subscription fee it may not be as attractive.
Some other options would be MQTT or webcore, but to be honest I don’t know how to do it in either of those. What you would be looking for is “receive a webhook.“ (not send, but receive. The IBeacon reader app is going to do the send.)
Ibeacon Reader Apps
For a discussion of these that should be available in Europe, see the following thread:
iBeacons+iOS+SmartThings (UK) presence [updated in 2023]
Another iBeacon Alternative: use HomeKit as an intermediary
Another method is to use a HomeKit compatible app like myhome as the iBeacon reader app and have it turn on a hue bulb or Meross smart plug or another device that is visible to both smartthings and Homekit and have that device coming on trigger a smartthings event.
I use this method for some use cases. I have found it to be a little bit less reliable than the webhook method mostly because the ibeacon reader apps mostly come from one person companies and over time the person stops keeping up with changes to the OS and the app will stop working for a while. Or forever. 
This one is still around:
Again if you write your own code you can do a lot more with this option, but I don’t anymore.
Conclusion
So…
I like Ibeacons and use them in my own home, but that’s because I’m in a wheelchair and I really do need to have systems based on a 10 m detection zone. Or in some cases a 2 m detection zone.
You would think they would be simple, highly reliable, and easy to set up as triggers but it turns out that’s only true if you write your own code. Which I don’t anymore.
You can still detect them using some of the available third-party apps like Geofency or myhome, but just detecting them isn’t enough. In order to get smartthings integration, you need to have the app that detected them then have some way of notifying smartthings, and right now that mostly means using a webhook into yet another third-party app/service, and then having that trigger an event in smartthings.
It’s doable, but it’s a little fragile, and I don’t know if the work required is worth it to most people.
And all of the above only works with iPhones, android devices just don’t work well with this technology, which is why Google eventually abandoned the Eddystone project.
Most analysts seem to think that this technology will eventually be replaced with Ultra Wideband (UWB) for microlocation, and both the newest Apple Watch and the HomePod mini have UWB chips built in although you can’t do anything with them yet. So it looks like Apple may be coming to the same conclusion.
So I would say try life360 first and see if that works.
If it doesn’t and you want to look into I beacons you can do that using the links I’ve given above, but I would personally guess any project based on those would have to be redone in about two years when a newer technology takes over. So again, I don’t know if that would be worth it to most people. 